Trust - Page 13

Anonymous donations not to be taxed in case of wholly religious trusts

Shri Girraj Educational and Welfare Society Vs Income-tax Officer 3(4) (ITAT Agra)

With a view to prevent channelisation of unaccounted money to these institutions by way of anonymous donations, a new section 115BBC has been inserted to provide that any income of a wholly charitable trust or institution by way of any anonymous donation shall be included in its total income and taxed at the rate of 30 per cent. ...

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Trust not entitled to exemption if carrying only incidental objects which are not charitable

M. Visvesvaraya Industrial Research & Development Centre Vs Commissioner of Income-tax (Bombay High Court)

An assessee that engages itself only or predominantly in activities relating to its ancillary or incidental objects which do not relate to any charitable purpose and does not carry on any activity relating to its main object which pertains to a charitable purpose is not entitled to an exemption under Section 11. A view to the contrary wou...

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Exemption to Charitable institution cannot be denied on the basis of a hypothetical assumption of an event that will happen in future

Additional Commissioner of Income-tax Vs N.L. Education Society (ITAT Agra)

The whole case revolves upon the lease deed dated 24.12.2004 executed between the lessor, Smt. Sudha Saraswat and the assessee-society through which the land measuring 5150.48 sq. meter was let out to assessee society for 30 years. Copy of the lease deed is appended with the assessment order. The assessee paid Rs. 10,000/- as premium and ...

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Providing sports facilities to general public without restriction to any caste, creed, religion or profession eligible for exemption U/S. 11

Director of Income-tax (Exemption) Vs Goregaon Sports Club (Bombay High Court)

This Court had the occasion to consider similar issues in a Judgment delivered in the case of DIT (Exemption) v. Chembur Gymkhana [Income Tax Appeal No. 5568 of 2010, dated 13-2-2012]. This Court, following the law laid down by the Supreme Court, has held that the fact that the membership of the club is open to a section of the community ...

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No need to Pay Cess – SC Order for Trust in Maharashtra

State of Maharashtra & Ors Vs. The Salvation Army, Western India Territory (Supreme Court of India)

According to a Supreme Court order as given below, there is no need for the Charitable & Religious Trusts Registered in Maharashtra to pay the 2% Annual Cess / Levy / Fees Tax Contribution to the Charity Commissioner's Office, of their total income, which is used to run the Charity Commissioner's office....

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Holding of classes not mandatory to qualify as educational institution

Council for The Indian School Certificate Examinations Vs Director General of Income Tax (Delhi High Court)

Assessee has filed writ petition against order passed by the Director General of Income Tax (Exemptions), for denying them exemption under Section 10(23C)(vi) of the Income Tax Act, 196, on the ground that the aforesaid institute was not directly imparting education and had not employed teachers who were teaching or giving lectures to the...

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No Exemption to charitable organization in case commercial receipts exceed the specified threshold

In case where the activity of any trust or institution is of the nature of advancement of any other object of general public utility, and it involves carrying on of any activity in the nature of trade, commerce or business; but the aggregate value of receipts from the commercial activities does not exceed Rs. 25,00,000/- in the previous y...

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Posted Under: Income Tax | ,

Budget 2011-12 – Exemption of specified income of notified body or authority or trust or board or commission

It is proposed to insert a new clause in section 10 of the Income-tax Act to provide exemption from income-tax to any specified income of a body, authority, board, trust or commission which is set up or constituted by a Central, State or Provincial Act or constituted by the Central Government or a State Government with the object of regul...

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Posted Under: Income Tax |

Interpretation of the words "manufacture or production" for the purpose of deduction U/s. 10B

ITO Vs E-Infochips Ltd. (ITAT Ahmedabad)

In view of the foregoing, we are in agreement with the findings of Id. CIT(A) that activities undertaken by the taxpayer were in respect of production and export of computer software within the meaning of provisions of section 10B of the Act, especially when the AO himself concluded so for the purpose of section 80HHE of the Act. We are a...

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Concessional ticket to travel Agents cannot be termed as commission

CIT Vs. Singapore Airlines Ltd. (Delhi High Court)

12. In order to come to a definite conclusion whether section 194H of the Act would be applicable to the assessee-airline in respect of transaction, in issue, we propose to first look at the scope and ambit of section 194H of the Act and then analyse the transaction as to whether it falls within the purview of the said Section. In this co...

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July 2020