Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights June 2023 Year 2023 This

Exemption u/s 11 - Receipt of voluntary contributions/corpus ...

Income Tax

June 29, 2023

Exemption u/s 11 - Receipt of voluntary contributions/corpus fund or capitation fee - AO, based on assumption and surmise, has held that there was violation under the KEI (Prohibition of Capitation Fee) Act by the assessee and that incorrect assumption has been rightly reversed by the ITAT. - HC

View Source

 


 

You may also like:

  1. Exemption u/s. 11(1)(d) - contributions received from students towards development and welfare funds of the school - voluntary contribution or otherwise - The ITAT...

  2. Exemption u/s 11 - Life Membership Fees claimed as capital receipt of the corpus donation - by no stretch of imagination, membership fee can partake character of...

  3. Exemption u/s. 11 & 12 - Capitation Fees - Providing Education services - Being a school not the professional institutions - assessee has collected ‘corpus donations’ -...

  4. 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,...

  5. Exemption u/s 11 - Corpus donation receipt - the donations/voluntary contributions received by the appellant society are outside the taxations, even for the period prior...

  6. 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...

  7. Exemption u/s 11 - whether Voluntary Contributions made to the corpus of the Trust constitutes “taxable income” of the Trust? - Corpus-specific-voluntary contributions...

  8. Nature of receipt - additions towards receipt of Corpus Fund - additions on account of Corpus contribution received by the appellant being a Trust - held as capital...

  9. Disallowance of exemption under S.11 - receipt of capitation fee - capitation fee having been received by Shri P.Lakshminarayana Reddy and not by the assessee society,...

  10. Exemption u/s 11 - trust which was not registered u/s.12A - Addition of corpus donation - voluntary contribution received by the trust with a specific direction that...

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

  12. Exemption u/s 11 - receipt of capitation fees - AO has brought out enormous evidence on record especially to establish that the assessee is not engaged in charitable...

  13. Exemption u/s 11 - Violation of section 13 - Surplus fund not applied for charitable purpose - accumulation of funds - AO directed to o grant exemption to the assessee...

  14. Exemption u/s 11 - undisclosed income - the assessee society had received contribution towards development fund from the students, apart from the tuition fees, with the...

  15. Exemption u/s 11 - hundi receipts embedded with specific purpose of corpus donation u/s. 11(1)(d) - The foregoing legal maxim also does not apply here. The clinching...

 

Quick Updates:Latest Updates