Dismissing the appeal of the revenue the Tribunal held that, voluntary contributions received by assessee-society for a specific purpose cannot be regarded as income under section 2(24)(iia), hence, could not be brought to tax even in case of trust not registered under section 12AA of the Act. (AY. 2014-15, 2016-17)
ITO(E) v. Hosanna Ministries (2020) 185 ITD 144 (Vishakha)(Trib.)
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)]