Indian Institute of Corporate Affairs ., In re
- Court:
- Authority for Advance Ruling
- Bench:
- Delhi
- Date:
- June 28, 2019
- Type:
- Advance Ruling
Subject
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…
Judgement
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…