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Donations to building fund Taxable in Absence of Section 12AA registration: Cochin ITAT
Case Law Details
- Case Name
- SNDP Yogam Kozhencherry Union Vs ITO (ITAT Cochin)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2015-16
- Courts
- All ITAT, ITAT Cochin
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SNDP Yogam Kozhencherry Union Vs ITO (ITAT Cochin)
Assessee is a registered charitable trust under the Charitable Trust Act but not registered u/s 12AA of the Income Tax Act, 1961. No returns were filed u/s 139(1). Based on information about cash deposits of in specified bank notes (SBNs) during demonetization, AO initiated reassessment proceedings u/s 148 & completed the assessment u/s 147 r.w.s.144B. Further, AO added ₹21,26,524, being donations received towards a building fund, holding that in the absence of Sec12AA registration, exemption u/s 11 is not available, & voluntar...
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