Income received from a charitable/religious trust will be tax-exempt under Section 11, provided that the activity being performed is incidental to the attainment of objectives set by the trust/institution, and separate books of account are maintained by the particular trust/institution pertaining to the business. In this article, we look at some of the major exemptions provided under Section 11 of the Income Tax Act.
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While following binding High Court precedent on limitation, the Tribunal quashed the assessment order. Liberty was granted to revive the matter depending on the Supreme Court’s final decision.
The dispute concerned denial of exemption on the ground of alleged business activity. The Tribunal held that once registration under Section 12AA stood restored, exemption under Sections 11 and 12 could not be denied.
The Tribunal reiterated that procedural delays in uploading Form 10B should not defeat substantive tax exemptions available to charitable trusts. Denial of Section 11 relief merely due to late filing was held to be unjustified where charitable activities were undisputed.
The case addressed whether exemption could be disallowed through prima facie adjustment under section 143(1). The Tribunal held such denial impermissible and ordered fresh consideration.
The Tribunal emphasized that exemption cannot be denied on assumptions. It restored the case to the AO for limited verification, reinforcing evidence-based assessment by the Income Tax Appellate Tribunal.
The Tribunal held that an appeal should not be rejected merely due to long delay when sufficient cause is shown. It ruled that technicalities cannot defeat substantial justice and restored the matter for decision on merits.
The issue was whether a final assessment under the DRP framework can be passed beyond statutory timelines. The Tribunal held that orders exceeding Section 153 limits are void, reaffirming strict adherence to limitation.
The court ruled that delayed filing of Form 10 for income accumulation cannot defeat exemption when substantive conditions are met. Rejection of condonation was held unsustainable.
The court held that late electronic filing of Form 10B is a procedural lapse that should not defeat charitable exemption. Orders rejecting condonation on technical grounds were quashed.
The court held that late filing of Form 10B is a procedural lapse and does not automatically bar charitable exemption. Substantial compliance before appellate proceedings was found sufficient.
