Charitable exemption eligibility & write-off of non-recoverable amounts from members examined.

The ITAT ruled in favor of the assessee, addressing two main issues. First, it referred the matter of exemption under Section 11 for charitable activities back to the Assessing Officer for evaluation, considering the Supreme Court's decision in ACIT vs. Ahmedabad Urban Development Authority on the computation of receipts from trade or business. Second, it allowed the write-off of non-recoverable amounts from terminated members, as the security deposits were non-refundable, included in the assessee's corpus, and the dues were already recorded as income. .....

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