Subsequent 12AA Registration Saves Trust: ITAT Treats Corpus Donation as Capital Receipt, Deletes Tax Addition

Shree Aanta Kadva Patidar Samaj Vs ITO (Exemption) (ITAT Ahmedabad) Subsequent 12AA Registration Saves Trust: ITAT Treats Corpus Donation as Capital Receipt, Deletes Tax Addition The Ahmedabad ITAT granted relief to Shree Aanta Kadva Patidar Samaj and held that corpus donations received by the trust could not be taxed merely because registration under Section 12AA was granted subsequently. The Tribunal observed that once registration stood granted before processing of return and there was no change in objects of the trust, benefit of Section 11 could not be denied. The assessee-trust had claim...