Nature of receipt - additions towards receipt of Corpus Fund - ...

Trust's Corpus Fund Additions Classified as Capital Receipts, Exempt from Taxation u/s 11.

August 23, 2018

Case Laws Income Tax AT

Nature of receipt - additions towards receipt of Corpus Fund - additions on account of Corpus contribution received by the appellant being a Trust - held as capital receipt - not liable to be taxed.

View Source

← Previous Next →

Nature of receipt - additions towards receipt of Corpus Fund - ...

Trust's Corpus Fund Additions Classified as Capital Receipts, Exempt from Taxation u/s 11.

August 23, 2018

Case Laws Income Tax AT

You may also like:

ITAT upheld the AO's decision to treat one-time life membership and institutional membership fees as non-corpus funds, making them ineligible for exemption under Section...

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...

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...

Exemption u/s 11 - donation received - if it is taken that the said fund was for infrastructural development or to say it was towards corpus fund of the trust, still as...

Exemption u/s 11 - registration u/s 12A withdrawn - the donee trust will treat the donation as towards its corpus and can only utilise the accruing income from the...

The development fund received from students, apart from tuition fees, is treated as a capital receipt or corpus donation, not a revenue receipt. The fund is utilized for...

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...

Exemption u/s 11 - corpus contribution of ₹ 150 Crores - the mere fact that the assessee credited the receipts as corpus contribution, in our considered opinion,...

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...

Cancellation of registration u/s 12AB(4) denied - trust's investments in mutual funds from accumulations and corpus donations, not borrowed funds - trust deed clause...

Exempted capital receipt u/s 12 - when the development fee received by the assessee is not voluntary but it is a compulsory charge on the students then the same cannot...

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...

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...

Exemption u/s 11(1)(d) - misutilization of receipts of earmarked funds as corpus donation - The fund was donated by founder member of the trust. The source is well...

Exemption u/s 11 - whether Voluntary Contributions made to the corpus of the Trust constitutes “taxable income” of the Trust? - Corpus-specific-voluntary contributions...

Quick Updates: