Corpus Specific Voluntary Contribution is a Capital Receipt and can’t be offered to Tax in case of Trust not Registered u/s 12A: ITAT [Read Order]

Capital Receipt - ITAT - Income Tax Appellate Tribunal - TAXSCAN

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that the corpus-specific voluntary contribution is a capital receipt and cannot be offered to tax in the case of trust not registered under Section 12A of the Income Tax Act, 1961. The assessee filed its return of income, which return was selected for scrutiny…

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