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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Payments to AwasBandhu were allowed as application of income. The Tribunal held such statutory contributions further public purposes and cannot be treated as non-business or taxable expenses.
The Tribunal held that inadvertent mistakes in filing Form 10AB cannot defeat a trust’s right to exemption. Registration was directed where objects and activities were never disputed.
ITAT Ahmedabad held that the assessee is entitled to the benefit of indexed cost of acquisition while computing book profit under section 115JB of the Income Tax Act. Accordingly, AO directed to recompute book profit after allowing indexation.
The Tribunal upheld cancellation after finding that funding practices influenced editorial content and political narratives. The ruling confirms that such conduct constitutes specified violations warranting loss of charitable status.
The tribunal held that late filing of Form 10B is a procedural lapse and cannot defeat exemption under Section 11. If the audit report is available before assessment or rectification, exemption must be allowed.
The case examined rejection of registration without affording a proper opportunity of being heard. The Tribunal ruled that deciding against the trust without confronting it on objections violates principles of natural justice. Key takeaway: procedural fairness is mandatory in section 12A proceedings.
The Tribunal ruled that registration cannot be cancelled for non-maintenance of separate books when that allegation was never put to the assessee. Authorities must specify the exact clause of specified violation relied upon.
The Tribunal held that exemption under section 11 cannot be denied once the delay in filing Form 10B stands condoned. The Assessing Officer was directed to verify and allow the exemption in accordance with law.
The Tribunal held that running coaching classes for substantial fees does not qualify as charitable education. In the absence of evidence of free or subsidized services, exemption under section 11 was rightly denied.
The Tribunal ruled that non-filing of Form 10B is a curable defect and cannot justify denial of exemption during processing. Section 143(1) cannot be used to decide debatable exemption issues.
