Corpus Donations Received by Unregistered Trusts are not Taxable unless Verified: ITAT [Read Order]

Corpus Donations Received by Unregistered Trusts - Corpus Donations - Unregistered Trusts - ITAT - taxscan

The Amrtsar Bench of Income Tax Appellate Tribunal (ITAT) has held that the corpus donations received by an unregistered trust would not be taxable unless it is verified. The assessee, Guru Govind Singh Educational Society, claimed exemption under Section 10(23C)(iiiad) of the Income Tax Act while operating a school under the name and guise of…

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