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Income Tax - Highlights / Catch Notes

Home Highlights July 2016 Year 2016 This

Revision u/s 263 - corpus donations received by the ...

Income Tax

July 13, 2016

Revision u/s 263 - corpus donations received by the assessee-trust - there is a clear contradiction in the order of assessment and non-application of mind on the material aspect of the issues raised by the show cause notice u/s 263 - revision sustained - AT

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  1. Revision u/s 263 by CIT - taxation being anonymous donation received in cash u/s 115BBC - According to the provisions of Section 115BBC, on anonymous donation tax is...

  2. Revision u/s 263 - tds credit issue non examination by AO - non examination of an issue by the AO renders the assessment erroneous and prejudicial to the interests of the revenue

  3. Entitlement to exemption under Section 11 - anonymous donations received - supply of fodder to cattle and animals is not only a good religious trust but it is also a...

  4. Non charitable activities - assessee failure to prove the donations received are corpus donations - not having registration u/s 12A - additions and disallowance confirmed - AT

  5. Addition u/s 68 or 115BBC - The anonymous donations will not be covered if donations received by any trust or institution created or established wholly for religious...

  6. Revision u/s 263 - Exemption u/s 11 - Receipt of corpus donation - donor itself is registered as a charitable trust/society under section 12AA of the Act. Therefore,...

  7. Registration u/s 12AA - proof of charitable activities - treatment as registered trust - receipt of land as Donation - the objects of the assessee trust being charitable...

  8. Exemption u/s 11 - the payment of donation by assessee trust to another registered public charitable trust is not in violation of section 13(1)( c) - AT

  9. Revision u/s 263 - As the assessee’s claim of having incurred the expenses towards furtherance of its charitable objective; and also its claim of having received...

  10. Revision u/s 263 - Section 145A is a non-obstante provision, which, therefore, is to be necessarily followed for the purpose of returning the income - revision upheld - AT

 

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