Section 12AA of Income-Tax Act, 1961 deals with Procedure for Registration of a Charitable Trust or institution
Income Tax : Learn about Income Tax Audit Form 10B & 10BB for charitable trusts, recent changes, filing deadlines, and compliance under Section...
Goods and Services Tax : The 54th GST Council recommends RCM for renting of commercial property by unregistered persons to registered entities, raising var...
Income Tax : Understand the income of trusts or institutions, including registration, exemptions, and FAQs. Learn about Sections 12A, 12AA, and...
Income Tax : Understand the impact of Section 43B(h) on businesses: Learn about deductions for MSME payments and the importance of timely payme...
Income Tax : Learn the eligibility criteria and step-by-step process for registering a charitable trust in India. Discover the significance, ad...
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 : ITAT Mumbai: Valid 12AA registration bars AO from denying Sec 11 exemption by re-examining charitable objectives. Key ruling expla...
Goods and Services Tax : Kerala High Court held that college, managed by an education trust, engaged in supplying food to students through canteen is requi...
Income Tax : Orissa HC dismisses Revenue appeal in CIT vs Dhaneswar Rath. Upholds ITAT, rules Sec 263 revision invalid based on consistency & ...
Income Tax : ITAT Jaipur quashes addition of suppressed school fees for Pushpa Vidya Niketan, stating survey statements lack evidentiary value...
Income Tax : ITAT Chennai held that exemption under section 11 of the Income Tax Act is allowable inspite of certain errors while filing form 1...
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...
Corpus fund which is meant for specific purpose to meet out capital expenditure could not be part of annual receipts of educational institution, even if no registration u/s 12AA have been granted.
1. Whether in the facts and circumstances of the case, the Income Tax Appellate Tribunal has not acted illegally and perversely in making observations with regard to grant of exemption under section 10(23C)(vi) when the Income Tax Appellate Tribunal has no jurisdiction to decide any application/appeal arising out of order passed either granting or rejecting exemption under section 10(23C)(vi) of the Act by the competent authority ?
CIT (E), while considering an application for registration under Section 12AA, is not supposed to examine whether applicant is entitled for certain exemptions under Section 11 or 12 or not since that is within the jurisdiction of Assessing Authority and not CIT (E).
On the facts and circumstances of the case, the learned Director of Income Tax (Exemption)has erred both on facts and in law in rejecting the application of the assessee for registration under Section 12A of the Income Tax Act, 1961.
In the present case, the assessee was not having any trust deed. So it is quite difficult for the ld. Commissioner to arrive at a firm conclusion about the objects of the trust. In case the trust deed is being written after application for grant of registration, then that deed can never be seen through by the ld. Commissioner for satisfying himself.
This appeal by the assessee is directed against the order of Commissioner of Income Tax -I, Pune dated 29-11-2013 rejecting the application of the assessee for grant of registration under section 12AA(1)(b)(ii) of the Income Tax Act, 1961 (hereinafter referred to as the Act).
Advocate Akhilesh Kumar Sah Just because the assessee has not filed income tax returns in earlier years, it can not be said that the activities of the assessee of the charitable trust / society were not genuine and grant of the registration under section 12AA cannot be denied
Assessee society is generating surplus year after year is not the deciding factor to determine whether it is eligible for exemption under section 11 of the Act. And on this ground alone, the exemption claimed by the assessee society under section 11 can not be denied. What is relevant to examine is whether the surplus so generated is ploughed back in furtherance of its educational objectives and related activities or not.
In a big relied to Baba Ramdev’s Patanjali Yogpeeth, the Delhi bench of Income Tax Appellate Tribunal (ITAT) has allowed exemption status under section 11 and 12 of the Income Tax Act.
DIT-E had denied registration to assessee-trust because he was of opinion that in absence of dissolution-clause assessee-trust was not entitled for registration.
