Section 12AA of Income-Tax Act, 1961 deals with Procedure for Registration of a Charitable Trust or institution
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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 : Punjab and Haryana High Court held that the construction of Public Library would also form part of charitable function and any wor...
Income Tax : ITAT Bangalore held that propagation of vedic thoughts and philosophy is not religious activity but are more concerned with the li...
Income Tax : Associated Chambers of Commerce And Industry of India Vs Deputy Commissioner of Income Tax & Ors. (Delhi High Court) Delhi Hig...
Income Tax : Department had challenged the finding of Tribunal on the issue as to whether the income received by the Kerala Cricket Association...
Goods and Services Tax : Kerala High Court held that the provisions of Section 7(aa) of the Central Goods and Service Tax Act, 2017 (CGST Act) will have pr...
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 rules that voluntary contributions received towards a trust’s corpus by an unregistered trust under Section 12A are capital receipts and therefore, not taxable. Explore more about this landmark decision.
CESTAT Ahmedabad held that services related to construction of roads etc. the Government authorities/ agencies are covered under Mega Exemption of Service Tax notification no. 25/2012-ST and hence demand unsustainable.
ITAT Chandigarh held that mere non-furnishing of copy of registration u/s 12A cannot be held as a valid and justifiable reason for denial of exemption u/s 11 of the Act where such registration continues to exist and the assessee trust duly stand registered u/s 12A for the year under consideration.
CESTAT Ahmedabad held that building constructed by the Appellant is not commercial and industrial construction, therefore does not fall under the category of taxable services, as the same is not used for commercial and industry but it is used for providing education.
ITAT Chandigarh held that loss incurred on account of embezzlement during the course of day to day carrying out of charitable activities by the trust is revenue loss and duly allowable.
ITAT Chandigarh held that receipts of the assessee trust from its activities of sale of plots, flats and commercial booths and also its income earned form non-construction fee, transfer fee, penal interest and compounding fee, etc., are held to be entitled for exemption under Section 11 of the I.T. Act.
Delve into the case of Society of Educational Assistance and Training Vs CIT (Exemptions), where ITAT Amritsar mandates reconsideration of a charitable trust registration rejection due to a lack of fair hearing opportunity.
ITAT Kolkata held that depreciation is allowable on asset of the assessee if acquisition is claimed as application of income. Notably, after change in law in section 11(6), assessee has not claimed acquisition of property towards application of income while computing the total taxable income.
ITAT Amritsar held that rejection of application for registration u/s 12AB of the Income Tax Act unsustainable as there is no violation of section 13(1)(c) by paying remuneration to the full-time working trustee.
ITAT Delhi held that registration u/s 12AA to trust created for managing the statutory obligations of employees of the parent trust is granted as the same falls within the ambit of advancement of general public utility and, hence, to be considered as a charitable activity as defined u/s 2(15) of the Act.
