Case Law Details
Case Name : Boyakonda Gangamma Devasthanam Vs ITO (ITAT Hyderabad)
Related Assessment Year : 2013-14
Courts :
All ITAT ITAT Hyderabad
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Boyakonda Gangamma Vs ITO (ITAT Hyderabad)
The clinching fact that has come to our notice during the course of hearing is that this assessee is governed by the provisions of Andhra Pradesh Charitable and Hindu Religious Institutions and Endowments Act, 1987. This ‘Act’ received the assent of the President on 15-05-1987. Chapter-VIII Section 65 Explanation (1)(g) thereof stipulates that ‘donations in cash or kind by the donors as contributions to capital’ shall not be deemed to be income of the concerned institution.
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