S. 14A : Disallowance of expenditure – Exempt income –Investment in shares – Not from borrowed funds –No disallowance can be made. [S. 10(34), R.8D ]
S. 14A : Disallowance of expenditure – Exempt income –Investment in shares – Not from borrowed funds –No disallowance can be made. [S. 10(34), R.8D ]
S. 12A : Registration –Trust or institution- when there is no change in objects of Trust , registration cannot be cancelled on the ground that there was amendment in respect of appointment of chief trustees and manner of managing the trust .[ S.11, 12AA(3), 13 ]
S. 12A : Registration –Trust or institution- Cricket association holding commercial tournaments on behalf of Board of Control for cricket in India is entitle exemption . The court admitted the appeal on the question whether the Tribunal erred in holding that even after addition to the objects clauses of the assessee-trust made without intimation to the Department, the registration could not be ipso facto cancelled under section 12AA(3) on the ground that the registration granted under section 12A and the benefits flowing therefrom, could not continue after amending the objects without the approval of the competent authority. [ S.2(15) 12AA(3), 260A ]