Judgement

Tribunal said letting out of the auditorium to fulfillment of the object of the trust i.e., education is commercial activity.

Renting of auditorium by educational institution for conducting guest lectures: ITAT allows exemption u/s 11

Cash Deposited on account of Tuition fees: ITAT upheld addition as assessee was unable to explain Education qualification

News

The Income Tax Department raided and seized large amounts of currency notes from TMC MLA Zakir Hossain's properties in Murshidabad and Kolkata.

Income Tax Raid: IT Dept. raids several premises of TMC MLA Zakir Hussain; Seized Huge quantities of Currency Notes

Cash Payment: Disallowance u/s 40A(3) not applicable on payment made to MSEDCL

Partners capital takes character of loan after the death of the partner; ITAT Discussion

The Gross collection of Direct Taxes has registered a growth of 24.58 percent which stood at 14.71 crore rupees in the financial year 2022-23 up to 10.01.2023.

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Renting of auditorium by educational institution for conducting guest lectures: ITAT allows exemption u/s 11

Cash Deposited on account of Tuition fees: ITAT upheld addition as assessee was unable to explain Education qualification

Income Tax Raid: IT Dept. raids several premises of TMC MLA Zakir Hussain; Seized Huge quantities of Currency Notes

Cash Payment: Disallowance u/s 40A(3) not applicable on payment made to MSEDCL

Partners capital takes character of loan after the death of the partner; ITAT Discussion

Gross Direct Tax Collections for FY 2022-23 register a growth of 24.58%