S. 11 : Property held for charitable purposes-Deemed university under University Grants Commission-Consultation fees received-Matter remanded. [S. 2(15), 12A, 80G]

S. 11 : Property held for charitable purposes-Once Department accepts that Assessee was charitable society claim to exemption could not be denied merely because the assessee has made in revised return-Depreciation-Not a double benefit-Taxes paid out of current year’s income-Allowable as application of income [S.2(15), 11(1)(a), 11(2), 12A, 32, 139(5)]

S. 11 : Property held for charitable purposes-Grants in aid received from Government-Grants sanctioned for participation in specific events held abroad-Separate account for projects to be maintained Expenses on specialised fairs and buyers seller meet abroad not to be disallowed. [S.11(1)(c)]

S. 11 : Property held for charitable purposes-Method of accounting-Change of method-Hybrid system of accounting permissible-Denial of exemption is not valid. [S.11(4A), 12, 12A, 13, 145]

S. 11 : Property held for charitable purposes-Registration does not automatically entitle to exemption-Objects not mentioning running of Kalyana Mandapams or letting out working women’s Hostel or construction and letting out of building-Form No 10 for accumulation of income was not filed-Not entitled to exemption. [S. 2(15), 12A, 12AA].

S. 11 : Property held for charitable purposes-Rent paid to specified persons-Fair market rents-Not made any excessive payments-Denial of exemption is not valid [S. 13(1)(c), 13(3)]

S. 11 : Property held for charitable purposes-Returnable interest free loans-Permission from charity commissioner-No loan was taken-No violation-Self help loan given to members-Details verified in the remand proceedings-Deletion of addition is held to be justified-Trust is not for particular religion or community-No violation-Entitle to exemption. [S. 12A, 13 (1)(c), 13(2), 69A, 69B, 131, 145, Bombay Public Trust Act, 1950, S, 36A(3)]

S. 11 : Property held for charitable purposes-Receipt from cultural hall-Amount was spent on the objects of Trust, medical education, relief to poor-Denial of exemption is not valid. [S. 2(15), 12AA]

S. 11 : Property held for charitable purposes-Computation of capital gains-Assessment pending for both years-Expenses related to GOLAK donation and interest-To be calculated after taking consideration of section 11 read with section 12A of the Act-Computation of capital gains-Acquisition of property by state government-Land purchased before 1-4-1981-Base index rate from 1-4-1981-Valuation done by state government as on 1-4-1981-Report of government valuer acceptable-Deemed registration-Entitled to claim exemption. [S. 12A, 12AA, 45]

S. 10B : Export oriented undertakings-Approval-STPI Scheme and Income-tax Act-Grant of the approval under S. 14 of Industrial Development and Regulations Act, 1951 by the Development Commissioner-Entitle to exemption-Arrangement with associates-Transactions with foreign entities-No loss to revenue-Provision is applicable only to in respect of profit earned from domestic companies-Deletion of addition was affirmed. [S. 10A, 10(B)(7), 80IA(10), Industrial Development and Regulations Act, 1951, S. 14]