Case Law Details
Case Name : Delhi State Aids Control Vs ITO (ITAT Delhi)
Related Assessment Year : 2006- 07
Courts :
All ITAT ITAT Delhi
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Whether the advances made by one trust to another trust registered u/s 12A of the Act and used by that trust for charitable purpose would qualify for exemption u/s 11 of the Act by the first trust irrespective of accounting treatment followed?
The assessee is a registered society u/s 12A of the Act and it is a Govt. organization under the Govt. of Delhi. During the year under consideration, Assessee had received grants from various sources. Out of total grants, a part of grant was given, for charitable purposes, by the assessee to the peripheral units who itself were registered charitable ins...
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This indeed is a very appropriate verdict that deserves the widest possible publicity among all charitable trusts. It now clears the air as to what constitutes “Application of Funds” and to be allowed as such.