Provisions of section 2(15) doesn’t apply to corpus fund donation of a charitable institution

Kakatiya Sangham Vs ITO (ITAT Visakhapatnam) ITAT Visakhapatnam held that contributions received for charitable purpose cannot be treated as income u/s 2(24)(iia) of the Act and hence, the provision of section 2(15) do not apply to the corpus fund donations of a charitable institution. Facts- The assessee society was registered u/s 12A of the Act. The assessee receives voluntary contributions and fee for maintaining marriage halls. AO noticed that the assessee is in receipt of marriage hall maintenance charges of Rs.31,26,141/-, which is in excess of Rs.25,00,000/-. AO held that running a marr...