Home Highlights September 2013 Year 2013 This

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1. The Appellate Tribunal considered whether the assessee, a trust registered u/s 12AA, qualified for exemption u/s 11 as a charitable entity. The AO argued the trust's...

2. 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...

3. Exemption u/s 11 - Grant of registration u/s 12AA - The provisions of section 11 (1)(c) comes into operation only once registration is granted u/s 12A of the Act and...

4. Accumulation of income - Disallowance of claim made u/s 11(2) - AO disallowed the claim of accumulation u/s 11(2) of the Act on the ground that in the resolution passed...

5. Charitable Trust- voluntary accumulations - the charitable trust cannot list all its objects as purposes for accumulation of income under section 11(2)..... - AT

6. Exemption u/s 11 - Accumulation of income - The money referred in Clause (b) (ii) is one accumulated or set apart. Meaning thereby that even if 85% of the income...

7. The Delhi High Court addressed the issue of deduction u/s 11(1) concerning accumulation of 15% of deemed income. The court noted that Explanation 2, inserted by the...

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 Exemption u/s 11 - registration u/s 12A withdrawn - the donee trust will treat the donation as towards its corpus and can only utilise the accruing income from the...

9. Accumulation of fund u/s 11(2) - Failure to submit Form 10 - information related to accumulation and purpose for utilization of accumulated income - Exemption u/s 11 not...

10. The Appellate Tribunal addressed the issue of exemption u/s 11 for income from property held for charitable purposes. It held that the provision of section 11(1)(a)...

11. Corpus donations received by the trust for running Kalyana Mandapam were voluntary in nature and could not be treated as rental receipts. Although the activity generated...

12. Denial of exemption u/s 11 & 12 - ‘Charitable Purpose’ as defined u/s. 2(15) - The mere fact that certain fee was charged by the assessee while rendering certain...

13. Exemption u/s 11 - assessee has not shown that the amount kept in fixed deposits have been allocated to or earmarked for a charitable purpose - Section 11(1A) is...

14. Exemption u/s 11 - enhancing the addition - accumulation of income - it is the only profits and gains derived from the incidental business of the assessee...

15. Rectification u/s 154 - Exemption u/s 11 - accumulation of income for charitable purpose - mistake apparent from the record - whether accumulation at 15% has to be...