S. 14A : Disallowance of expenditure-Exempt income-Disallowance cannot be more than exempt income. [S. 10(34), R. 8D]

S. 12AA : Procedure for registration-Trust or institution-Voluntary contributions received by assessee-society for a specific purpose cannot be regarded as income. [S. 2 (24)(iia)]

S. 12AA : Procedure for registration-Trust or institution-Salary, vehicle rent to specified persons-Matter remanded for reconsideration. [S.13 (1)(c), 13(3)]

S. 12AA : Procedure for registration-Trust or institution-Failure to deduct tax at source-Salary of staff partly in cash partly by cheque-Denial of registration is held to be not valid. [S.12A]

S. 11 : Property held for charitable purposes-Society constituted by Ministry of Textiles, Government of India to promote handloom sector-Exhibitions in different parts of country for display and sale of handloom fabrics/cloth manufactured by handloom weavers and handloom society-Motive was to provide a platform for handloom weavers-Not carrying on any business, trade or commerce-Eligible for benefit. [S. 2(15)]

S. 11 : Property held for charitable purposes-Non-profit entity-Contract of construction of a museum by RBI-Commercial activities-Not eligible for exemption. [S. 2(15)]

S. 11 : Property held for charitable purposes-National issues-Real estate sector-conventions, exhibitions etc-Charitable purpose-Eligible for exemption. [S. 2(15)]

S. 11 : Property held for charitable purposes-Accumulation of income-15 per cent accumulation for application in future has to be calculated on gross receipt and not on net receipt after deduction of revenue expenditure-suo motu observation of the CIT (A) that assessee trust’s activities were not covered under section 2(15) was per se bad-Application of income-Donation to charitable organisation-Held to be application of income. [S. 2(15), 12A]

S. 11 : Property held for charitable purposes-Excess spending Deficit or shortfall could be allowed to be carried forward in full for set off against incomes generated in subsequent years. [S. 11(1)(a)]

S. 10A : Free trade zone-Charges/expenses relating to telecommunication, insurance charges and foreign exchange loss should be excluded both from export turnover and total turnover while computing deduction.