navy cadets at subsidized rates with an object to make no
material surplus (service). It is further claimed by the assessee that
the assessee ... claimed
that education is imparted but, in our opinion, as per material on
record, it is just a coaching class and cannot be equated with
materials used in construction;
c. depreciation of plant and equipment used on the contract;
d. costs of moving plant, equipment and materials to and from ... included in contract revenue, for example income
from the sale of surplus materials and the disposal of plant and equipment
cost to cost services to the
beneficiaries. Besides, the surplus on sale of materials
viz, fertilizers, equipment etc. though the said business
activities were ... interest on Fixed Deposits 10.22 10.22
By donations 0.47 0.47
By surplus on materials supplied 4.34 4.34
TOTAL (A) 624.25 624.25
B-APPLICATI0N OF INCOME
cost to
cost service to the beneficiaries. Besides, the surplus on sale of
material viz. fertilizers, equipment etc. though the said business
activities were ... activities besides an amount of Rs.402042/-
on account of "Surplus on material supplied for tribal development on the ground
that the assessee entered
cost to cost service to the beneficiaries.
Besides, the surplus on sale of materials viz. fertilizers, equipment etc.
thought the said business activities were ... cost to cost services to the beneficiaries.
Besides, the surplus on sale of materials viz, fertilizers, equipment etc.
though the said business activities were
substantial income by way of examination fees. He also noticed that the surplus derived by the assessee every year was quite substantial and hence profit ... classes and examinations and the supply of study material. The balance which remained as a surplus, after incurring all the expenses in running the institution
place to prevent
abuse/misuse of the exemption granted and the surplus earned, if any. In my
view, Section 101 of the Act should ... mere fact that that clinic
had earned a surplus in some years is not material per se for the grant of
exemption, what remains
denied and surplus brought to tax.
19. Heard both the parties and gone through the material available
on record.
20. Firstly, we find that ... training material for out of school children, its impact on the
learning and understanding the gaps and requirement to make the
training material more appropriate
accounts for the respective years showed that the main receipts were :
(i) Material fees, (ii) testing fees, (iii) fees from consultancy projects.
Substantial expenditure ... year, any small variation in the cost of materials would result in either surplus or deficit and because of the number of candidates involved
working out the surplus in the hands of the
society. The assessing officer has failed to bring any material on records to establish
that ... working out the surplus in the hands of the
society. The assessing officer has failed to bring any material on records to establish
that
