2020 (12) TMI 228 - KARNATAKA HIGH COURT - Income Tax

Head Note / Extract:
Exemption u/s 11 - Whether AO and appellate forums have jurisdiction to adjudicate the genuineness of the receipts by the trust which is vested with the Commissioner u/s 12A and 12AA especially when Sections 12(1) and 2(24)(iia) deems all income received by the assessee Trust to the rigor of Sections 11, 12 and 13 - voluntary contributions received by the appellant are in the nature of capitation fees - HELD THAT:- As assessee submitted that the aforesaid substantial questions of law have already been answered against the revenue by a Bench of this Court in 'COMMISSIONER OF INCOME-TAX Vs. ADICHUNCHANGIRI MASAMSTANA MUTT' [2019 (1) TMI 1832 - KARNATAKA HIGH COURT] AND [2019 (1) TMI 1829 - KARNATAKA HIGH COURT] - The aforesaid submission could not be disputed by the learned counsel for the revenue. - Decided in favour of assessee.