Donations received as a corpus funds - the gift deed alone is ...

Corpus Donations Not Taxable: Donor's Intent Key, Not Just Gift Deed, Ensures Tax Exemption for Recipient.

July 16, 2012

Case Laws Income Tax AT

Donations received as a corpus funds - the gift deed alone is not to be looked into - it was a corpus donation at the end of donor and it is not a taxable income in the hands of the assessee - AT

View Source

← Previous Next →

Donations received as a corpus funds - the gift deed alone is ...

Corpus Donations Not Taxable: Donor's Intent Key, Not Just Gift Deed, Ensures Tax Exemption for Recipient.

July 16, 2012

Case Laws Income Tax AT

You may also like:

Exemption u/s 11 - registration u/s 12A withdrawn - the donee trust will treat the donation as towards its corpus and can only utilise the accruing income from the...

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...

Revision u/s 263 - Exemption u/s 11 - Receipt of corpus donation - donor itself is registered as a charitable trust/society under section 12AA of the Act. Therefore,...

HC allowed appeal against trial court's decision invalidating a gift deed and granting permanent injunction. While trial court focused solely on fraud allegation without...

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...

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...

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...

Levy of GST on the service of display of name or placing of name plates of the donor in the premises of charitable organisations receiving donation or gifts from individual donors

Addition of gifts u/s. 68 - genuineness of the gifts - unable to produce the donor - The document produced by the assessee that is bank statement, ITR, Gift deed, bank...

Addition of sum received as "Gift" by the assessee from his "father" - The donor is about 85 years old and the amount has been gifted to his own son through a gift deed...

Trust: additions as anonymous donations u/s 115BBC rejected - AO doubted genuineness of donors without substantiating evidence. Assessee provided complete donor details...

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...

Capital gain on property gifted - Execution of sale deed instead of gift deed wrongly in favor of Daughter in law (DIL) - DIL has not paid the amount as mentioned in the...

Exemption u/s 54F - artificial transfer of one house by way of gift deed - colourable device to claim exemption - The assessee artificially created a gift deed of the...

Anonymous donation - The ITRs and the letters from the donors stating that the donation has been given for the trust for conference, and towards the corpus fund. Hence,...

Quick Updates: