Category: Income-Tax Act

Archive for the ‘Income-Tax Act’ Category


Lokesh Agarwal Dharmarth Charitable Trust. v. CIT (2024) 207 ITD 796 (Jaipur) (Trib.)

S. 12AB: Procedure for fresh registration-Trust or institution-Eligibility-Rajasthan Public Trust Act is applicable to assessee-trust-Trust was not registered under Rajasthan Public Trust Act-Not eligible for registration under section 12AB. [S. 12A, Rajasthan Public Trust, 1959, S.17]

Shree Swaminarayan Gadi Trust. v. CIT (2024) 207 ITD 666 /231 TTJ 595/240 DTR 371 (Surat) (Trib.)

S. 12A : Registration-Trust or institution-Mistake in filing entry in Form No-10AB-Rejection of application is not proper-Commissioner (E) is directed to treat application of assessee under section 12A(1)(ac)(iii) and to consider case on merits. [S.12A(1)(ac)(iii), Form No.10AB]

Saaksh Foundation. v. CIT (2024) 207 ITD 671/230 TTJ 171/238 DTR 449 (Mum) (Trib.)

S. 12A : Registration-Trust or institution-Failure to furnish details of activity-Opportunity of hearing was not granted-Restored to file of Commissioner (E) for de novo adjudication. [S.12A(1)(ac)(vi)]

Rajbalhat Cultural Circle. v. CIT (2024) 207 ITD 633 (Kol) (Trib.)

S. 12A : Registration-Trust or institution-Granted registration under
section 12AB for five years-There was no bar in moving application at earliest possible event, matter is restored to Commissioner (E) to consider application of assessee for final registration and grant same, if same was otherwise so admissible to assesse.[S.12AB,80G(5), Form No. 10AC]

Karamshi Jethabhai Somaiya (Delhi) Trust. v. CIT (2024) 207 ITD 564 (Delhi) (Trib.)

S. 12A : Registration-Trust or institution-Denial of registration-Application rejected application on ground that no charitable activity was initiated and no expenses were incurred on any charitable activity as detailed in section 2(15)-Assessee submitted documents to show that it had given financial assistance/donation to improve healthcare, education and services and to uplift standard of living of Tribals-Matter is remanded back for fresh consideration.[S.2(15), 12A(1)(ac)(iii), 80G (5)]

ACIT v. Shree Maheshwari Samaj. (2024) 207 ITD 701/232 TTJ 17(UO) (Jodhpur) (Trib.)

S. 11 : Property held for charitable purposes-Rent receipt-Receipt from rent by assessee-society was in course of actual carrying out of objects of general public utility and same was below 20 per cent of total receipt-Commissioner (Appeals) is justified in allowing benefit under sections 11 and 12-Corpus donation-Donation received by assessee-society were with specific direction and also utilized for construction of fixed assets i.e. bhawans only, same was corpus donation exempted under section 11(1)(d) [S.2(15), 11(1)(d), 12A]

Kathikode Charitable Trust. v. ITO (2024) 207 ITD 588 (Cochin) (Trib.)

S. 11 : Property held for charitable purposes-Promotion of education, culture and philosophy-Returned filed in wrong form-Filed return in Form 5 claiming loss which is meant for business income-The Assessing Officer is directed to consider return as a rectification petition. [S.12AA, 139(4A), 139(9), 139C, 143(1), 154, Form No 5, Form No 7,]

DCIT v. Indian Grameen Services. (2024) 207 ITD 609 (Delhi) (Trib.)

S. 11 : Property held for charitable purposes-Specified persons-Adequate consideration-Rental value adopted by Assessing Officer was less than 10 per cent rent received by assessee-Denial of exemption is not justified.[S.12, 12A(a), 13(2)(b), 13(3)]

ITO v. Professional Assistance for Development Action. (2024) 207 ITD 446 (Delhi) (Trib.)

S. 11 : Property held for charitable purposes-Activities for upliftment of poor, providing training and skill development to poor in rural areas-Denial of exemption is not justified.[S. 2(15)]

Dharma Naidu Educational and Charitable Trust v. DCIT (2024) 207 ITD 419 (Chennai)(Trib.)

S. 11 : Property held for charitable purposes-Depreciation-Application of income-Application of income more than 85 percent of total income before depreciation-Matter remanded to the file of the Assessing Officer for deciding the issue accordance with law.[S.10(23C)(vi), 11(6),12A(a), 32]