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 December 2015 Year 2015 This

Donation of gold chhabba - whether in light of explanation to ...


Court Rules Gold Chhabba Donation Not a Deemed Trust u/s 2(24)(iia) of Income Tax Act; No Exemptions Apply.

December 21, 2015

Case Laws     Income Tax     HC

Donation of gold chhabba - whether in light of explanation to Section 2(24) (iia) of the Act, the Dera is not a deemed trust? - The cumulative effect of all the factors shows that all the transactions done by the appellant-assessee, were in his individual capacity - no exemptions - HC

View Source

 


 

You may also like:

  1. The ITAT, an Appellate Tribunal, assessed whether donations received by a trust for acquiring a capital asset should be taxed as income. The trust treated the donations...

  2. 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...

  3. Assessment of Trust - voluntary corpus donations - Whether the assessee is a discretionary Trust - Additions u/s Section 56(2)(vii) read with Section 2(24)(iva) - AOP...

  4. 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...

  5. The Delhi High Court addressed the issue of deduction u/s 11(1) concerning accumulation of 15% of deemed income. The court noted that Explanation 2, inserted by the...

  6. Disallowance u/s 14A read with Rule 8D - the AO has not computed any disallowance under Rule 8D(2)(i) and Rule 8D(2)(ii) of the Rules and only under Rule 8D(2)(iii) of...

  7. Exemption u/s 11 - claiming benefit of accumulation u/s 11(2) over deemed income u/s 11(3) - non application of income - the assessee should not be eligible to claim...

  8. 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...

  9. Accrual of income u/s 2(24) - Scope of Amendment to Section 2(24) by the insertion of sub-cause (xviii) - taxability of incentives given by the Government - the...

  10. Suit decreed partially for recovery, doctrine of lis pendens applied. Agreement dated 17.08.1990 not found fraudulent or result of collusion between plaintiff and...

  11. CENVAT Credit - input - fuel - the exception to sub-rule (1) which is contained in sub-rule (2) itself contains an exception, namely, inputs intended to be used as fuel....

  12. Levy of penalty - taking CENVAT Credit irregularly - it is the contention of the Assessee that there is some element of discretion available in the adjudicating officer...

  13. Recognition of TRUST - As can be seen from the definitions, the Trust created in terms of the deed of settlement is consistent with the requirements of both, the Indian...

  14. HC ruled in favor of a Russian tourist regarding customs detention of a gold chain. The court established three key principles: (1) bona fide personal jewelry falls...

  15. Deduction u/s. 24(a) equal to 30% - Rental income from fixture, fittings and amenities - separate agreements for let out of the property and for providing amenities -...

 

Quick Updates:Latest Updates