Donations to building fund Taxable in Absence of Section 12AA registration: Cochin ITAT

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...