{"id":6310,"date":"2019-08-10T10:05:19","date_gmt":"2019-08-10T10:05:19","guid":{"rendered":"http:\/\/itatonline.org\/digest\/advertising-agencies-association-of-india-v-adit-2019-177-itd-33-mum-trib\/"},"modified":"2019-08-10T10:05:19","modified_gmt":"2019-08-10T10:05:19","slug":"advertising-agencies-association-of-india-v-adit-2019-177-itd-33-mum-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/advertising-agencies-association-of-india-v-adit-2019-177-itd-33-mum-trib\/","title":{"rendered":"Advertising Agencies Association of India v. ADIT  (2019)  177 ITD 33 (Mum.)(Trib.)"},"content":{"rendered":"<p>Assessee trade association of advertising agencies organised &#8216;Fest&#8217; every year for advancement of its objects specified in Charter of Trust.\u00a0 In which it invited eminent speakers from international advertising world as well as from Indian media. Surplus generated out of &#8216;Goa Fest&#8217; were accumulated and set apart and same was\u00a0 deposited in bank in form of fixed deposits and saving account. It claimed exemption in respect of receipt and interest.\u00a0\u00a0 AO denied the exemption which was affirmed by CIT(A). On appeal the Tribunal held that since Fest organised by assessee was clearly towards advancement of assessee&#8217;s object of general public utility, receipts from said Fest and interest received on money deposited were entitled for exemption. (AY. 2011-12)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 11 : Property held for charitable purposes-Trade association-Surplus from Goa Feast\u2013Feast receipt and interest from bank-Entitle to exemption. [S. 2(15)]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-6310","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-1DM","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/6310","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=6310"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/6310\/revisions"}],"predecessor-version":[{"id":6311,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/6310\/revisions\/6311"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=6310"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=6310"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=6310"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}