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Life Membership, Award/IJA/WSJA Fund for specific Purpose are Corpus Donations
Case Law Details
- Case Name
- Indian Society of Anaesthesiologists Vs ITO (ITAT Chennai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All ITAT, ITAT Chennai
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Indian Society of Anaesthesiologists Vs ITO (ITAT Chennai)
Income Tax Appellate Tribunal (ITAT) Chennai Bench has issued a ruling clarifying the nature of certain receipts by charitable societies, holding that specific funds and life membership fees contribute to a society’s “corpus fund” and are therefore not subject to income tax. The decision, in the case of Indian Society of Anaesthesiologists vs. ITO (ITAT Chennai) for the assessment year 2007-08, provides guidance for organizations registered under Section 12AA of the Income-tax Act, 1961.
The appellant, the Indian Soc...
