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DATE: January 13, 2015 (Date of pronouncement)
DATE: January 21, 2015 (Date of publication)
AY: -
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CITATION:
S. 11 (charity) and 12AA (cancellation of registration): Important propositions of law laid down

s.12AA(3) has no retrospective effect as it is neither explanatory nor clarificatory in nature and the CIT has no power to rescind the order passed by the CIT prior to 1st Oct.2004. For an assessee to be classified as charitable under the residuary category i.e. “advancement of any other object of general public utility” u/s 2(15) of the Act, the following four factors have to be satisfied

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DATE: January 16, 2015 (Date of pronouncement)
DATE: January 19, 2015 (Date of publication)
AY: 2009-10
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CITATION:
S. 2(15): Fees or consideration received for rendition of a service to business, trade or commerce will not attract the disability under first proviso to s. 2(15) if such service is subservient to the charitable cause and is not in the nature of business itself

Even in a situation in which an assessee receives a fees or consideration for rendition of a service to the business, trade or commerce, as long as such a service is subservient to the charitable cause and is not in the nature of business itself, the disability under second limb of first proviso to Section 2(15) will not come into play

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DATE: December 2, 2014 (Date of pronouncement)
DATE: December 4, 2014 (Date of publication)
AY: 2008-09 & 2009-10
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CITATION:
S. 2(15)/ 11: Entire law on what is "charitable purpose" and scope of Proviso inserted by Finance (No.2) Act 2009 w.r.e.f. 01.04.2009 explained

(i) The purpose for which the assessee association, i.e. The Indian Chamber of Commerce, was established is a charitable purpose within the meaning of S. 2(15) of the Act. The assessee is carrying out the said activities which are incidental …

Indian Chamber of Commerce vs. ITO (ITAT Kolkata) Read More »

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DATE: November 5, 2014 (Date of pronouncement)
DATE: November 11, 2014 (Date of publication)
AY: 2008-09
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CITATION:
S. 50C vs. s. 11: If a charitable institution invests the entire sale consideration in other capital asset, s. 50C should not be invoked

The only issue in the appeal is, therefore, whether while taking the Value of Sale of capital Asset being immoveable property in case of an institution registered u/s 12A whether the provisions of section 11(1A) will prevail or deeming provisions …

ACIT vs. The Upper India Chamber of Commerce (ITAT Lucknow) Read More »