Section 12AA of Income-Tax Act, 1961 deals with Procedure for Registration of a Charitable Trust or institution
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Income Tax : Thus, for a trust registered u/s 12AA of the Act to avail the benefit of exemption u/s 11 shall inter-alia file its return of inco...
ITAT Kolkata held that the surcharge is leviable only when the amount of income tax is computed where the total income exceeds Rs.50 lakhs. Here, surcharge is not leviable since income is less than Rs. 50 Lakhs. Accordingly, appeal allowed.
ITAT Ahmedabad held that provisions of section 68 of the Income Tax Act doesn’t apply in the matter of non-utilisation of amounts received towards Corporate Social Responsibility (CSR) activities. Thus, appeal allowed.
In the matter abovementioned Hon’ble Madras HC denied to grant any relief to the petitioner by holding that ITAT is the ultimate fact finding body and findings of facts of the Tribunal cannot be interfered under Section 260A of IT Act.
Delhi High Court ruled charitable institution’s activities prima facie do not qualify as taxable supply or business under the CGST Act, 2017.
The present appeal is filed by the assessee against the denial of registration under section 12AB of the Income Tax Act vide the order passed by the Commissioner of Income Tax (Exemption), Ahmedabad.
Further, the change in the claim of deduction or status of the assessee would not mount to mistake apparent from records, and, as such, it cannot be rectified u/s. 154 of the Act.
ITAT Ahmedabad held that denial of exemption u/s. 11 by CPC in the rectification petition not justified since the same was allowed in earlier proceeding and it is settled position of law that debatable issues cannot be done in rectification proceedings.
The appellant are that the assessee being a public charitable Trust engaged in running an educational institution in the name of Batanagar Institute of Engineering, management and Science.
There is nothing which would indicate that the petitioner had received any consideration from the Government, the KIIFB or the General Education Department as consideration for the supply of goods or services.
ITAT Ahmedabad held that exemption u/s. 11(1)(2) and 11(1)(a) of the Income Tax Act duly admissible to Rajkot Urban Development Authority (RUDA) since the activities were not commercial in nature.
