Section 12AA of Income-Tax Act, 1961 deals with Procedure for Registration of a Charitable Trust or institution
Income Tax : This analysis explains how Parliament designed Sections 11 to 13 to ensure that tax-free income is ultimately used for charitable ...
Income Tax : This guide explains when gifts received by individuals and HUFs become taxable under the Income-tax Act, including monetary, movab...
Income Tax : This analysis explains how charitable and religious trusts qualify for exemption under Sections 11 to 13 of the Income-tax Act. It...
Income Tax : The document highlights situations where exemptions under Sections 11 and 12 can be withdrawn, including benefits provided to inte...
Income Tax : Expanded grounds for cancellation now include legal non-compliance and incorrect disclosures. Trusts must treat accuracy and gover...
Income Tax : Karnataka State Chartered Accountants Association made a representation on 31.10.2022 to Minister of Finance Smt. Nirmala Sitharam...
Income Tax : CAG noticed ineffective monitoring of accumulation of income and its utilization, ineffective monitoring of receipts and utilizati...
Income Tax : BCAS representation in regard to the conditions set out in various orders of registration granted to Charitable institutions in re...
Income Tax : CA Shailesh R Ghedia president of BJP Professional Cell, Mumbai has written a letter to Honorable Finance Minister, Smt. Nirmala S...
Income Tax : Deferrement of Procedure for Approval/ Registration/Notifications of certain entities U/s 10(23C), 12AA, 35 & 80G of Incom...
Income Tax : The ITAT Delhi held that although failure to file Form 10B disentitled the assessee from claiming exemption under Sections 11 and ...
Income Tax : The ITAT Visakhapatnam held that the Commissioner cannot invoke Section 263 where the Assessing Officer has already conducted inqu...
Income Tax : The ITAT held that registration granted under Section 12AA before completion of assessment entitled the trust to claim exemption f...
Income Tax : The dispute concerned whether dividend received on capital reduction by a foreign subsidiary could trigger restrictions under Sect...
Income Tax : The Tribunal held that the special tax regime under Section 115BBE is confined to additions made under Sections 68 to 69D. Additio...
Income Tax : PCIT or CIT can examine if there is any specified violation by the trust or institution registered or provisionally registered und...
Income Tax : CBDT issues Notification no. 19/2021 dated 26/03/2021 pertaining to procedure for registration of fund/ trust/charitable instituti...
Income Tax : CBDT has decided that the implementation of new procedure for approval/ registration/notification of certain entities shall be def...
Income Tax : These rules may be called the Bombay Public Trusts (Second Amendment) Rules, 2019. 2. In rule 1 of the Bombay Public Trusts Rules,...
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 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.
Pune ITAT remanded the matter after finding that the trust claimed it had no knowledge of notices issued by the CIT(Exemption). The Tribunal granted another opportunity to furnish documents supporting registration under Section 12AA.
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.
ITAT Chennai held that an AO is not permitted to take different stand on the same issue and same set of facts over different years. Thus, exemption u/s. 11 granted in spite of the fact that return was filed using ITR-6.
Non-disposal of application for registration u/s 12AA(2) within a period of six months would not result in deemed grant of registration as Parliament had carefully and advisedly not provided for such deeming fiction.
The respondent-Society had applied for registration pleading that it was running a private Industrial Training Institute imparting vocational to the students, and the same was duly affiliated and regulated by National Council for Vocational Training (NCVT).
In view of above facts, we restore this appeal back to the learned Assessing Officer with the direction to the assessee to substantiate the status of the assessee as trust and also eligibility of relevant provisions of Sections 11 and 12 by producing the registration u/s. 12AA of the Act.
The 54th GST Council recommends RCM for renting of commercial property by unregistered persons to registered entities, raising various legal and ITC implications.
