Home Highlights November 2017 Year 2017 This

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1. Taxability of Trust as a dealer under Kerala General Sales Tax Act, 1963 - the assessee-Port Trust would fall within the meaning of "dealer" under Section 2(viii) of...

2. Registration u/s 80G(5)(vi) denied - CIT(E) held that the assessee-trust is a private religious trust and therefore, cannot be held as a charitable trust within the...

3. Income from House Property - Payment made to Mumbai Port Trust claimed by assessee u/s 23 - the term local authority cannot be rigidly interpreted to mean only a local...

4. Demurrage charges - once consignment is handed over to the Port Trust by the steamer agents, duly endorsing the bill of lading or issuing the delivery order but the...

5. Denial of exemption u/s 11 - Assessee is claimed to be a trust carrying on activities of providing swimming pool facilities for aquatic events and training and...

6. The assessee, a trust, claimed to be taxed at the same rate applicable to its beneficiary u/s 115BAA. However, this claim was dismissed as the assessee was not treated...

7. Deduction u/s 80IA - Inland storage facility operation at various ports – there is an agreement between the assessee and the Visakhapatnam Port Trust Authorities that...

8. Rejection of certification u/s 80G - Charitable object u/s 2(15) - Charitable purpose - We note that just because in the objects of the trust, it is mentioned that...

9. This case deals with the tax liability u/s 115BBC(1) for anonymous donations received in the "Hundi" by a charitable and religious trust. The key points are: The...

10. Exemption u/s.10(23)(vi) - The assessee-trust does not have profit motive, the small profit generated while carrying out charitable activities, does not mean that...

11. Assessee is a revocable trust OR AOP - as the names of the beneficiaries of the assessee trust and their shares were known since inception i.e at the time of the...

12. The ITAT Chennai held that the denial of registration u/s 80G(5) to an old trust was unjustified as the trust existed before the new registration regime. The trust...

13. Application u/s 154 - grant of interest u/ 244A - On appeal, we find that the CIT(A), being of the view that the impugned order before him was an order passed by the A.O...

14. Status of a trust/AOP - Valid status - assessee trust is a revocable trust - provisions of Sec. 61 to 63 of the Act would be applicable to it - there would be no legal...

15. 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...