Dividend received from shares donated as corpus fund is treated ...

Dividends from donated shares form corpus, not income, if donor directs so. Reinvestment in specified modes u/s 11(5) qualifies for exemption.

July 12, 2024

Case Laws Income Tax AT

Dividend received from shares donated as corpus fund is treated as part of corpus fund, not income, if donor directs so, following Mata Amrithanandamayi Math case. Since assessee invested dividend in specified modes u/s 11(5), it qualifies for exemption. Revenue's appeal against this treatment is dismissed by ITAT.

View Source

← Previous Next →

Dividend received from shares donated as corpus fund is treated ...

Dividends from donated shares form corpus, not income, if donor directs so. Reinvestment in specified modes u/s 11(5) qualifies for exemption.

July 12, 2024

Case Laws Income Tax AT

You may also like:

Exemption u/s 11 - registration u/s 12A withdrawn - the donee trust will treat the donation as towards its corpus and can only utilise the accruing income from the...

Assessee held shares as stock-in-trade for trading purposes, not to earn dividend income. HC held provisions of Section 14A disallowing expenses relatable to exempt...

The ITAT deleted additions related to dividend and interest income, holding that dividend could not be assessed in the hands of the appellant for unregistered shares,...

Income from dividend, commission and interest from the business of trading in shares – dividend income arrived at by the appellant was chargeable under the head “Income...

Disallowance of exemption claimed u/s 10(34) on Dividend income - the conditions laid down u/s 115-O to avail the exemption u/s 10(34), is to be complied with at the...

Assessment of trust - Shirdi Sansthan of Shri Sai Baba - interest earned from such corpus funds - the assessee has not been able to adduce any evidence or letter or...

Deduction u/s 80P - deduction of income earned as interest/dividend from co-operative bank is allowable. Section 80P(2)(d) reflects that if income by way of interest or...

Set off of current year business loss against foreign dividend income - levy of tax u/s 115BBD on gross foreign dividend income - assessee would be entitled for set off...

Income Tax: Tax on distributed income of domestic company for buy-back of shares to be treated as dividend in hands of shareholders. Cost of acquisition of shares bought...

Addition u/s 14A r.w.r. 8D - Whether all shares held in ‘stock-in-trade’ should be considered for disallowance under section 14A or only those shares which yielded the...

Deemed dividend u/s. 2(22)(a)/2(22)(d) r.w.s. 115-O - purchase/ buyback of its own shares by the company - It is to be noted that as per the proviso to Sec. 2(22), only...

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,...

Addition u/s 68 - Corpus donation - To strengthen the claim of the assessee regarding the genuineness of the corpus donation further documents like bank statement of the...

Rate of tax payable on Dividend Distribution Tax (DDT) - Distribution of dividends to its share holders (Germany) (Non-residents) - the additional income tax payable by...

Allowable deduction of interest paid on the borrowings - Section 14A and Section 36(1)(iii) - Exempted dividend income - Based on the discussions and findings, the court...

Quick Updates: