Indian Institute of Corporate Affairs ., In re
Date: June 28, 2019
Subject Matter
Consideration for the supply of goods or services may be paid by the recipient or by any other person
Summary
Q) Whether the amount paid by M/s AICL to the applicant is in the nature of consideration for supply of good or services or the same can be considered as grant-in-aid. A) The applicant has claimed that the whole activity can be divided into two…
Statement of Facts: 1. The Indian Institute of Corporate Affairs (“IICA”), the applicant, is a society registered under the Societies Registration Act, 1860. The applicant has the following registrations and exemptions available: (i) An exemption under Section 10 (23C) (iv) and (v) of the Income Tax Act, 1961 for AY 2017-18 onwards. (ii) Registration under Section 12A/12AA of the Incom…