Section 12AA - Page 14

Registration u/a 12AA cannot be canceled due to receipts exceeding threshold limit of section 2(15)

SAE India Vs DIT(E) (ITAT Chennai)

Hon'ble Chennai ITAT has in the case of SAE India v/s DIT(E) has held that if the objects and activities of the trust are genuine than registration cannot be cancelled merely because receipts are exceeding threshold limit as provided under second proviso to section 2(15) of the Act. ...

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While granting Registration U/s. 12A CIT not required to look into trust activities

CIT Vs Varanasi Welfare Trust (Allahabad High Court)

At the time of registration under Section 12AA of the Income Tax Act, which is necessary for claiming exemption under Section 11 and 12 of the Act, the Commissioner of Income Tax is not required to look into the activities, where such activities have not or are in the process of its initiation. ...

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Applicability to earlier years of registration granted to a trust or institution

The existing provisions of section 12A of the Act provide that a trust or an institution can claim exemption under sections 11 and 12 only after registration under section 12AA has been granted. In case of trusts or institutions which apply for registration after 1st June, 2007, the registration shall be effective only prospectively....

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Posted Under: Income Tax |

Budget 14- Cancellation of registration of the trust or institution in certain cases

The existing provisions of section 12AA of the Act provide that the registration once granted to a trust or institution shall remain in force till it is cancelled by the Commissioner. The Commissioner can cancel the registration under two circumstances: (a)     the activities of a trust or institution are not genuine, or; (b)     ...

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Posted Under: Income Tax |

Budget 2014 – Exemption u/s. 10 not allowable to trust who opted for special dispensation U/s. Sections 11, 12 & 13

Rationalisation of taxation regime in the case of  charitable trusts and institutions The existing provisions of section 11 of the Act provide for exemption to trusts or institutions in respect of income derived from property held under trust and voluntary contributions subject to various conditions contained in the said section. The pri...

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Posted Under: Income Tax |

Charity from loan taken is Not a valid reason for denying sec 12AA registration

Neesu Human Resource & Welfare Society Vs CIT (ITAT Agra)

Merely because and institution has borrowed funds, one cannot conclude that the objects of such institution cannot be charitable. The assessee may borrow funds for fulfillment of its objects, therefore, we have stated in framing words, the mere facts of borrowing cannot be against the assessee at the stage of grant of registration....

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Charitable & religious trust eligible for Exemption U/s. 11 & 12 if not benefiting any specific religious community- SC

CIT Vs Dawoodi Bohara Jamat (Supreme Court of Court)

In the case of CIT vs. Dawoodi Bohara Jamat SC has held that the respondent-trust is a charitable and religious trust which does not benefit any specific religious community and therefore, it cannot be held that Section 13(1)(b) of the Act would be attracted to the respondent-trust and thereby, it would be eligible to claim exemption un...

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Denial of Registration u/s 12A for mere unsubstantial activities not justified

Commissioner of Income Tax Vs Satvara Education Foundation (Gujarat High Court at Ahmedabad)

In view of the above, we see no reason to interfere with the impugned order passed by the ITAT. No question of law, much less substantial question of law arises in the present Tax Appeal. Hence, the present Tax Appeal deserves to be dismissed and is accordingly dismissed....

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Registration U/s. 12AA cannot be refused for mere non commencement of charitable or religious activity by Trust

Hardayal Charitable & Educational Trust Vs Commissioner of Income Tax-II (Allahabad High Court)

The preponderance of the judicial opinion of all the High Court including this Court is that at the time of registration under Section 12AA of the Income Tax Act, which is necessary for claiming exemption under Section 11 and 12 of the Act, the Commissioner of Income Tax is not required to look into the activities, where such activities h...

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No Deemed Registration of Trust on expiry of Time-limit to pass decision on trust’s registration U/s. 12AA

Commissioner of Income-tax Vs Karimangalam Onriya Pengal Semipu Amaipu Ltd. (Madras High Court)

Time frame under sub-section (2) of Section 12AA of Income Tax Act is only directory. Tribunal was not right in holding that since the application for registration has not been disposed off within the limitation of six months, the Assessee Company was deemed to have been granted registration under Section 12AA of the Act....

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