Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights November 2015 Year 2015 This

Addition made u/s 68 in respect of corpus donation - When the ...


Corpus Donations Exempt u/s 11(1D); CIT(A) Rightly Deletes Addition Contested u/s 68.

November 21, 2015

Case Laws     Income Tax     AT

Addition made u/s 68 in respect of corpus donation - When the corpus donations received by the assessee is specifically exempted u/s 11(1D) of the Act, Ld. CIT(A) has rightly deleted the addition. - AT

View Source

 


 

You may also like:

  1. Exemption u/s 11 - Corpus donation receipt - the donations/voluntary contributions received by the appellant society are outside the taxations, even for the period prior...

  2. Corpus donations, being distinct from incomes derived from trust property, are granted exemption separately u/s 11(1)(a) and 11(1)(d) of the Act. There is no overlapping...

  3. Exemption u/s.11(1)(d) - Assessment of trust - corpus donations - anonymous donations and taxing the same u/s.115BBC - Going with the prescription of section 115BBC...

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 Exemption u/s 11 - registration u/s 12A withdrawn - the donee trust will treat the donation as towards its corpus and can only utilise the accruing income from the...

  5. Addition u/s 68 OR 41(1) - unexplained cash credit - Cessation of liability - The appellant contested additions to their income, alleging bogus sundry creditors. Despite...

  6. Assessment of trust - corpus donation receipts - addition u/s 68 - Nothing was brought on record that they were actually functioning at the time of donations and when...

  7. Exemption u/s 11 - hundi receipts embedded with specific purpose of corpus donation u/s. 11(1)(d) - The foregoing legal maxim also does not apply here. The clinching...

  8. Benefit of section 11 & 12 - conversion of loans to the corpus donations - these amounts having been accepted as genuine loans in the earlier years and having been...

  9. Denial of exemption u/s 11 was challenged. The assessee trust's entire income, including corpus donation, voluntary donation, and other income, was adjusted by not...

  10. Addition u/s 68 - Exemption u/s 11 - if there is a disclosure of this income in the hands of the assessee as corpus fund and applied the same is for charitable purposes...

  11. Exemption u/s 11 - trust which was not registered u/s.12A - Addition of corpus donation - voluntary contribution received by the trust with a specific direction that...

  12. Addition u/s 68 - Corpus donation - To strengthen the claim of the assessee regarding the genuineness of the corpus donation further documents like bank statement of the...

  13. Exemption u/s 11 - Once, these donations are not corpus donations, then, automatically all receipts including corpus donations shall be treated as receipts of the trust...

  14. Exemption u/s 11 - If the corpus has been received by the assessee for a designated purpose, the same should have utilized for that purpose only and if depreciation is...

  15. Exemption u/s 11 – Building fund received as donations to be treated as income u/s 68 of the Act or not – assessee is a charitable Trust and its income is to be exempted...

 

Quick Updates:Latest Updates