Verified corpus donation not taxable even if received by trust not registered u/s 12AA

Guru Govind Singh Educational Society Vs ITO (ITAT Amritsar)

ITAT Amritsar held that corpus donation received by trust not holding the registration u/s 12AA is not taxable provided the same is verified. Accordingly, matter remitted back to AO for verification of corpus donation.

Facts- The assessee is an educational society and running school in the name and style of G.N. Convent School, Village, Bhaloor, Distt. Moga. During assessment proceeding, AO found that the assesse

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