9911796707
TMI Blog2023 (1) TMI 1077X X X X Extracts X X X X X X X X Extracts X X X X ..... Therefore, when the donations forming the corpus of the assessee s trust received with specific purpose are capital in nature. Thus, we hold the corpus specific voluntary donations are not taxable in the case of unregistered trust also and in view of the same the order of CIT(A) is not justified. Therefore, the denial of exemption for not having registration u/s. 12AA of the Act resulted into disallowance therein is deleted. Thus, the grounds raised by the assessee are allowed. - ITA Nos. 378 & 379/PUN/2022 - - - Dated:- 17-1-2023 - SHRI INTURI RAMA RAO , ACCOUNTANT MEMBER AND SHRI S. S. VISWANETHRA RAVI , JUDICIAL MEMBER For the Assessee : Shri Sanket M. Joshi For the Revenue by : Shri Ramnath P. Murkunde ORDER P ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... spute with regard to filing of details of list of donors, sample vouchers and other details in support of its claim. We note that both the authorities below disallowed corpus donations as revenue receipts in view of the fact that the assessee has no registration u/s. 12AA of the Act. The ld. AR referred to the decision of Co-ordinate Bench of the Tribunal in the case of Serum Institute of India Research Foundation in ITA No. 621/PUN/2016 for A.Y. 2005-06 vide order dated 29-01-2018 and argued that irrespective of having registration u/s. 12AA of the Act, the voluntary contributions specifically received towards corpus of the trust cannot be brought to tax. 6. We note that, this Tribunal, in the case of Serum Institute of India Research F ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Act resulted into disallowance therein is deleted. Thus, the grounds raised by the assessee are allowed. 7. In the result, the appeal of assessee is allowed. ITA No. 379/PUN/2022, A.Y. 2012-13. 8. We find that the issues raised in the appeal and the facts in ITA No. 379/PUN/2022 are identical to ITA No. 378/PUN/2022 except the variance in amount. Since, the facts in ITA No. 379/PUN/2022 are similar to ITA No. 378/PUN/2022, the findings given by us while deciding the appeal of assessee in ITA No. 378/PUN/2022 would mutatis mutandis apply to ITA No. 379/PUN/2022, as well. Accordingly, the appeal of assessee is allowed. 9. In the result, both the appeals of assessee are allowed. Order pronounced in the open court on 17th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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