Home Highlights August 2018 Year 2018 This

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1. Exemption u/s 11 - corpus contribution of ₹ 150 Crores - the mere fact that the assessee credited the receipts as corpus contribution, in our considered opinion,...

2. Exemption u/s 11 - If the corpus has been received by the assessee for a designated purpose, the same should have utilized for that purpose only and if depreciation is...

3. Exemption u/s 11 - Corpus Donation - the corpus fund donated to the assessee cannot be included in the income and expenditure account but has been rightly shown by the...

4. Education trust - corpus fund - AO was not justified in holding contributions towards different corpus funds as current income liable to tax. - AT

5. Initiation of CIRP - Financial Debt or not - The present transaction was in pursuance of the sale agreement. There was no other agreement formed between the parties for...

6. Assessment of trust - Shirdi Sansthan of Shri Sai Baba - interest earned from such corpus funds - the assessee has not been able to adduce any evidence or letter or...

7. Nature of receipt - Amounts received from its members towards Surety Guarantee Fund (SGF) - the receipts from members in the sum being amount received from members...

8. Assessment of trust - donation in corpus fund and in non-corpus fund - The addition stood made without confronting the assessee in this regard and thereby violating the...

9. On money receipts - additions based on the disclosure made before the Settlement Commission, however, the application was rejected by the commission - As a settled...

10. Addition made on account of unaccounted cash receipts – Sale of car parking area - Without any evidence in the year for receipt of on-money the addition cannot be sustained - AT

11. Delay in deposit made to the employees Provident fund and ESIC - such sums were not credited by the respective assessee to the employees 'accounts in the relevant fund...

12. MAT - Addition on account of receipt of sale proceeds of production from trial run of the plant at Phase-II of the power project - whether the said receipt was revenue...

13. Exemption u/s 11 - donation received - if it is taken that the said fund was for infrastructural development or to say it was towards corpus fund of the trust, still as...

14. Addition u/s 68 - Share premium - Transaction in the nature of Capital Account - violation of the provision of Section 78(2) of the Companies Act, 1956 - The High court...

15. Addition u/s 68 - addition on the basis of receipts in the ledgerised cash sheet - the addition made by the AO has led to double addition and the same nature of...