Section 10(23C)(iiiad) Exemption Allowed as Corpus Donations Not Part of Annual Receipts

B.R. Morden School Samiti Tara Lodge Vs ITO (ITAT Dehradun) The ITAT Dehradun allowed the appeal of an educational society for Assessment Year 2016–17, holding that corpus donations received with a specific direction for building or infrastructure development cannot be treated as part of “annual receipts” for the purpose of exemption under Section 10(23C)(iiiad) of the Income Tax Act, 1961. The Assessing Officer had denied exemption by aggregating the institution’s educational receipts of ₹66.88 lakh with voluntary contributions toward a building fund of ₹48.89 lakh, thereby treati...