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Exemption Allowed as Corpus Donations Excluded from Annual Receipts U/s. 10(23C)(iiiad)
Case Law Details
- Case Name
- Sathyam Educational & Charitable Trust Vs ITO (ITAT Chennai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2014-15
- Courts
- All ITAT, ITAT Chennai
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Sathyam Educational & Charitable Trust Vs ITO (ITAT Chennai)
The Income Tax Appellate Tribunal (ITAT), Chennai, considered two appeals filed by the assessee trust for Assessment Years 2014–15 and 2015–16 against orders of the Commissioner of Income Tax (Appeals), NFAC. Since the issues in both appeals were identical, they were disposed of through a consolidated order.
The primary issue was denial of exemption under Section 10(23C)(iiiad) of the Income Tax Act on the ground that the assessee’s gross receipts exceeded ₹1 crore. The Assessing Officer (AO) included cor...
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