As long as the objects of the trust are charitable in character ...

Trust Qualifies for Tax Exemption u/s 11(2) Despite Lack of Specific Future Spending Details.

December 1, 2015

Case Laws Income Tax AT

As long as the objects of the trust are charitable in character and as long as the purpose or purposes mentioned in Form 10 are for achieving the objects of the trust, merely because of non-furnishing of the details, as how the said amount is proposed to be spent in future, the assessee cannot be denied the exemption as is admissible u/s 11(2) - AT

View Source

← Previous Next →

As long as the objects of the trust are charitable in character ...

Trust Qualifies for Tax Exemption u/s 11(2) Despite Lack of Specific Future Spending Details.

December 1, 2015

Case Laws Income Tax AT

You may also like:

The appellant trust claimed to be formed for public charitable activities and registered under the Rajasthan Public Trust Act 1959, regularly filing its income tax...

The Appellate Tribunal considered whether the assessee, a trust registered u/s 12AA, qualified for exemption u/s 11 as a charitable entity. The AO argued the trust's...

Benefit u/s 11(2) denied - merely because of non-furnishing of the details, as how the said amount is proposed to be spent in future, the assessee cannot be denied the...

This case deals with the tax liability u/s 115BBC(1) for anonymous donations received in the "Hundi" by a charitable and religious trust. The key points are: The...

Denial of exemption u/s 11(2) was contested due to the trust's failure to file Form No. 10 within the due date specified u/s 139(1) owing to technical issues. The...

The assessee, a trust registered u/s 12AA, filed its return of income belatedly u/s 139(4) of the Income Tax Act. The issue was whether the trust could avail exemption...

Charitable entity u/s 2(15) denied exemption u/ss 11 and 12 by Assessing Officer (AO) on grounds of conducting exhibitions being commercial in nature. ITAT held no...

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...

Exemption u/s 11 - charitable purposes u/s 2(15) or not? - The Tribunal held that, mere selling some product at a profit will not ipso facto hit assessee by applying...

HC allowed appeals, holding appellant's activities qualified as "relief of the poor" under Section 2(15) for charitable purpose definition and Section 11 exemption...

Exemption u/s 11 - status of the assessee trust - The assessee trust is irrevocable trust which is duly registered under section 12A and thus, eligible for exemption u/s...

Exemption u/s 11 - Expenditure on distributing prize, Honorarium to jury, Event management expenses and Employee benefits - Whether expenditure incurred directly or...

Allowance of standard deduction u/s 24(a), deduction for actual repairs, and deduction of accumulated income u/s 11(2) in the case of a charitable trust claiming...

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...

Trust constituted by Central Government challenged its status as deemed dealer under MVAT Act for sale of stressed assets. HC held Trust qualifies as deemed dealer under...

Quick Updates: