Mere absense of intention in donation under sec 12AA cannot treat it non corpus fund and such fund cannot included in the income
Last updated: 09 July 2012
Court :
INCOME TAX APPELLATE TRIBUNAL
Brief :
The brief facts of the case are that assessee is a trust. It has filed its return of income for assessment year 2008-09 on 30th September, 2008 declaring nil income. According to the Assessing Officer, the assessee trust was created by the settler Shri Surendra Verma vide trust deed dated 30.5.2007 with a contribution of Rs.5,000. During the year, assessee trust had received donations from six persons. Shri Manvinder Verma donated 10 acres of agricultural land having value of Rs.85,05,200
Citation :
Addl. Commissioner of IT, Range-2, New Delhi.(Appellant) Vs. Chaudhary Raghubir Singh Educational & Charitable Trust, Shamli (MZN) (PAN: AAATC8919N) (Respondent)
You have reached your daily limit of 2 Free Judgements
Subscribe to CCI PRO for unlimited access
Why Upgrade to CCI PRO?
- No Ads
- WhatsApp Broadcasts
- Daily E-Newsletter
- Unlimited Judgements Access
Already a PRO member? Login here for an ad-free experience.
CS Bijoy
Published in Income Tax
Views : 2564
Comments
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
