Home Highlights April 2019 Year 2019 This

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1. Assessment of trust - Exemption u/s 11 - The expenditure, if incurred in an earlier year is adjusted against the income of a later year, it has to be held that the trust...

2. Exemption u/s 11 - The expenditure, if incurred in an earlier year is adjusted against the income of a later year, it has to be held that the trust had incurred...

3. Assessment u/s 153A - Exemption u/s 11 - Carry forward of the deficit being excess of expenditure over income to the subsequent years - the Hon’ble Supreme Court has...

4. Exemption u/s 11 - Expenditure on distributing prize, Honorarium to jury, Event management expenses and Employee benefits - Whether expenditure incurred directly or...

5. Exemption u/s 11 - Use of accumulated income for different purpose - Treating the amount given to PSWHMMS as the income of the appellant-society in terms of section...

6. Exemption u/s 11 - the assessee trust is entitled to set off of excess expenditure of earlier years in subsequent assessment years as application of income.

7. Exemption u/s 11 - registration u/s 12A withdrawn - the donee trust will treat the donation as towards its corpus and can only utilise the accruing income from the...

8. Exemption u/s 11 / 10(23C)(vi) - Charitable activity u/s 2(15) - trust seeking approval as existed ‘solely’ for educational purposes - It is held that the requirement of...

9. Exemption u/s 11 - Claim of set off of carry forward of losses - if commercial principles are applied then adjustment of expenses incurred by the trust for charitable...

10. Exemption u/s 11 - Accumulation of income - Carry forward of deficit - Carry forward of excess expenditure carried forward from the earlier assessment years - The...

11. Exemption u/s 11 - Charitable activity u/s 2(15) - Commercial activity - Citing past decisions favorable to the trust under similar assessments, the Tribunal reiterated...

12. Exemption u/s 11 - On lifting the veil, it is clear as daylight that the modus operandi adopted by the Assessee Institutions and Trusts are with the twin objectives of...

13. Exemption u/s 11& 12 - Merely because an institution, which otherwise is established for a charitable purpose, receives income that would not make it any less a...

14. Exemption u/s 11 - expenditure to the extent of 85% - assessee is running the trust in accordance with the objects. The activities carried by the assessee in running the...

15. Exemption u/s 11 - Application of income for charitable purposes - Where in the law has it been provided that a trust has to incur expenditure on its own and cannot give...