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2015 (11) TMI 1767 - AT - Income TaxExemption u/s 11 - whether the corpus donation received by the assessee is exempted u/s 11(1)(d) of the Act or not ? - registration u/s 12AA mandation pre-condition for grant of exemption u/s 11 and 12 - Held that:- Admittedly, the trust was not registered u/s 12AA of the Act. This Tribunal is of the considered opinion that registration u/s 12AA is a mandatory pre-condition for grant of exemption u/s 11 and 12 of the Act. As carefully gone through the order of this Tribunal in case of Pentafour Software Employees’ Welfare Foundation vs ACIT (2008 (7) TMI 984 - ITAT CHENNAI). This Tribunal has not considered the mandatory requirement of registration u/s 12AA for claiming exemption u/s 11. Under the scheme of the Income-tax Act, 1961, donations are considered as income unless the same were received from blood relatives. In the case before us, admittedly the assessee is not registered u/s 12AA of the Act. Therefore, sec. 11 of the Act is not applicable. There is no provision in the Income-tax Act, 1961 for exempting the donation received by the assessee in case it is not registered u/s 12AA of the Act. Therefore, the order of this Tribunal in M/s Pentafour Software Employees Welfare Foundation is not applicable. - decided against assessee.
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