Tag: charitable Institution
Amendment to provision of Charitable Trust and Institutions to eliminate possibility of double deduction while calculating application or accumulation Exemption to funds, Charitable institutions, trusts etc. carrying out religious or charitable activities is provided under clause (23C) of section 10 of the Act and sections 11 and 12 …
Registration u/s 12AA can not be denied for non-commencement of activities. Registration can be applied for by a new trust. Supreme Court settles the law. ABCAUS Case Law Citation:ABCAUS 3275 (2020) (02) SC Important case law relied upon by the parties:Commissioner of Income Tax-II vs. R.S. Bajaj SocietySelf …
It is a settled position of law that while granting registration u/s 12AA CIT (Exemptions) is required to examine the objects of the assessee. If objects are charitable in nature, registration should be granted to the assessee. ABCAUS Case Law Citation:ABCAUS 3218A (2020) (01) ITAT In the instant …
On rejection of approval u/s 10(23C) no bar in making fresh application, treating application of the assessee as non-est was unjustifiable ABCAUS Case Law Citation: ABCAUS 2994 (2019) (06) ITAT The appeal was filed by the assessee against the order of the Commissioner of Income Tax (Exemptions) on …
Chartered flight travel by a charitable society enjoying tax benefit was an unreasonable expenditure. ITAT confirms addition for want of justification ABCAUS Case Law Citation:ABCAUS 2965 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties:Chiranjiv Charitable TrustIndraprastha Cancer Society 229 Taxmann 93 (Del)Lissie medical institutions vs. …
Unspent amount of donations shown as current liabilities not income if received with stipulation to their use by the Charitable Trust-High Court ABCAUS Case Law Citation ABCAUS 2377 (2018) 06 HC The instant appeal was filed by the Revenue u/s 260-A of the Income Tax Act 1961against the …
Guidelines issued by CPC for claiming Exemption u/s 10 & 11 As per the provisions of Income Tax Act, the exemption of income under sections 10 and 11 is governed by certain statutory conditions and procedures. In order to assist you in complying with these conditions and procedures, …
Tests must be applied to determine if an institution exists solely for educational purposes and not for profit. High Court remands the approval u/s 10(23C) for application of tests as laid down by the Supreme Court ABCAUS Case Law Citation:ABCAUS 2267 (2018) (03) HC Important Case Laws Cited/relied …
Yamuna Expressway Authority-If charitable Institution us 12AA or not to be decided by Allahabad High Court, Questions of Law framed ABCAUS Case Law Citation: 1054 (2016) (11) HC Important Case under consideration: Sri Ramtanu Co-operative Society v. State of Maharashtra Indian Trade Promotion Organization v. Director General of …
Depreciation and exemption both not allowable to charitable trust. Statutory provision u/s 32 to prevail over customary practice-commercial principle-ITAT The allowability of the depreciation claim to a charitable trust/institution in calculating prescribed limit of 85% towards income application u/s 11 of the Income tax Act, 1961 was settled …
