S. 11 : Property held for charitable purposes-Business Loss-Embezzlement of funds-Loss to be treated as revenue loss CBDT Circular No. 35d (X1, Vii-20) [F. No. 10148/65-It (Al)-Amount recovered disclosed as income in consolidated income and expenditure account-Adjoining land purchased for purpose of extending college building-Form 10 filed not specifically mentioning object for which funds accumulated-Not reason to deny benefit. [S.11(2), 12AA,Form No 10,Form No 26AS]

S. 11 : Property held for charitable purposes – Prima facie adjustments-No intimation given to assessee filing return and form 10B beyond due date mentioned under Act-Supreme Court extending limitation in respect of all judicial and quasi-judicial proceedings-Exemption is directed to be allowed .[S.139(4), 143(1)(a)]

S. 11 : Property held for charitable purposes-Trust formed under statute to bring about improvement in the town of Sangrur by providing streets, housing facilities, development of parks, development of roads and other infrastructure, providing drinking water, etc-Entitle to exemption .[S. 2(15), 12,13 (8)]

S. 11 : Property held for charitable purposes-Exemption cannot be denied only on the ground that audit report was not filed along with the return – Matter remanded to the Assessing Officer .[S. 12, Form 10B]

S. 11 : Property held for charitable purposes – First proviso to sub-section (2) of section 12A as inserted by Finance (No.2) Act,2014 with effect from 1-10-2014 is retrospective in nature – Application for registration under section 12AA was made on 9-3-2012,Commissioner granted registration on 28-10 2015 with effect from 1-4-2011 – Claim for exemption is deserved to be allowed for the Assessment year 2011-12. [S. 11(1), 12A, 12AA(2)]

S. 11 : Property held for charitable purposes – Accumulation of income – Not eligible to claim in respect of deemed income-Directed to recompute exemption available .[S.11(1)(a),11(b), 11(2),11(3),Rule 17]

S. 11 : Property held for charitable purposes-Grants from State Government for specific infrastructure projects-Grants would not be voluntary contributions and would not constitute income of assessee.[S. 11(1)(d), 12, 12AA]

S. 11 : Property held for charitable purposes-Foreign travel expenses incurred for obtaining donations, are allowable as a deduction when donations received are utilized towards the fulfilment of the objects of the trust. [S. 12A, Foreign Contribution Regulation Act]

S. 11 : Property held for charitable purposes-Adjustment-A prior intimation is required to be served on assessee, either in writing or electronically, as contained in 1st proviso to section 143(1)(a)-Income should be understood in its commercial sense and computing total income of assessee equal to total receipts for year was not in accordance with commercial prudence and commercial sense-Addition was deleted .[S.12AA, 143(1)(a)]

S. 11 : Property held for charitable purposes – Collection of charges from the civilians for community work of spreading awareness related about drug abuse and addiction and rendered services for procuring passport, issuance of NOC, etc – Denial of exemption is not justified – Mater remanded to the AO to verify whether proviso to section 2(15) had been breached. [S. 2(15), 12AA, 13(8)]