Home Highlights September 2013 Year 2013 This

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1. Exemption u/s 11 - Charitable activity u/s 2(15) - Commercial activity - Citing past decisions favorable to the trust under similar assessments, the Tribunal reiterated...

2. Exemption u/s 11 - Grant of registration u/s 12AA - The provisions of section 11 (1)(c) comes into operation only once registration is granted u/s 12A of the Act and...

3. Accumulation of income - Disallowance of claim made u/s 11(2) - AO disallowed the claim of accumulation u/s 11(2) of the Act on the ground that in the resolution passed...

4. Charitable Trust- voluntary accumulations - the charitable trust cannot list all its objects as purposes for accumulation of income under section 11(2)..... - AT

5. Exemption u/s 11 - Accumulation of income - The money referred in Clause (b) (ii) is one accumulated or set apart. Meaning thereby that even if 85% of the income...

6. Exemption u/s 11 - registration u/s 12A withdrawn - the donee trust will treat the donation as towards its corpus and can only utilise the accruing income from the...

7. Accumulation of fund u/s 11(2) - Failure to submit Form 10 - information related to accumulation and purpose for utilization of accumulated income - Exemption u/s 11 not...

8. Denial of exemption u/s 11 & 12 - ‘Charitable Purpose’ as defined u/s. 2(15) - The mere fact that certain fee was charged by the assessee while rendering certain...

9. Exemption u/s 11 - assessee has not shown that the amount kept in fixed deposits have been allocated to or earmarked for a charitable purpose - Section 11(1A) is...

10. Exemption u/s 11 - enhancing the addition - accumulation of income - it is the only profits and gains derived from the incidental business of the assessee...

11. Rectification u/s 154 - Exemption u/s 11 - accumulation of income for charitable purpose - mistake apparent from the record - whether accumulation at 15% has to be...

12. Exemption u/s 11 - assessment of trust - accumulation of income - The AO and CIT(A) disallowed this accumulation, arguing that it was not for a specific purpose and was...

13. Exemption u/s 11 - AO made the addition on the ground that since the five years period expires in AY 2013-14, and since the assessee did not utilize the sum accumulated...

14. Exemption u/s 11 - AO rejected accumulation of income u/s.12AA - on perusal of facts available on record, clause 4k of trust deed provides for extending help and relief...

15. Exemption u/s 11 - the assessee trust shall not be allowed exemption owing to accumulation of income to the tune of 15% of its income as is provided under second limb of...