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Surplus earned by Trust while imparting Education not Business Income: ITAT [Read Order]

Taxscan Team

The Lucknow bench of the Income Tax Appellate Tribunal (ITAT) has held that the surplus earned by the Trust by imparting education cannot be treated...

Beneficiaries not Taxable for Fund invested by Trust in Swiss Bank: ITAT [Read Order]

Trust providing IT Diploma Courses for Fee eligible for Income Tax Relief: ITAT [Read Order]

Supplying Food to Poor by Trust under Sub-Contracts received from State Govt or Intermediaries not...

Trust cannot be treated as a ‘Non-Banking Financial Institution’: CESTAT [Read Order]

No Tax Relief to Trust for Gift made to an Unregistered Trust: ITAT [Read Order]

The Chennai bench of the Income Tax Appellate Tribunal ( ITAT ) has held that a Trust cannot enjoy the benefit of Section 11 of the Income Tax Act in case of the gift made to another Unregistered...

Income of Beneficiaries not Taxable in the hands of Trust : ITAT [Read Order]

In M/s. Abad Trust vs. Asst. Director of Income Tax (Exemption), the Cochin Bench of Income Tax Appellate Tribunal ( ITAT ) held that tax cannot be assessed at the hands of the Assessee-Trust and that...

Collecting Fee from Students not ‘ Uncharitable Activity ’: ITAT grants relief to Trust [Read Order]

In Rama Devi Memorial Society v. ACIT, the New Delhi bench of the Income Tax Appellate Tribunal ( ITAT ), held that the charitable nature of the Trust would not be destroyed if it collects Fee from...

12AA Registration can’t be revoked merely because Trust exceeded limit prescribed u/s 2(15) in One Year: ITAT [Read Order]

The Mumbai ITAT recently held that merely because in one year the income of assessee- Trust exceeded the limit prescribed under section 2(15), by itself could not warrant the cancellation of...

Sale Price approved by Charity Commissioner had to be followed in case of Trust’s Sale Deed: ITAT [Read Order]

In the case, Deputy Commissioner of Income Tax vs Saifee Jubiee High School & Madressa Yusufiyan Society, Ahmedabad bench of Income Tax Appellate Tribunal (ITAT) recently ruled that sale price...

Trust not Entitled to Exemption since it had not Maintained Books of Accounts in respect of its Incidental Business: Bombay HC [Read Judgment]

The Bombay High Court has recently ruled that trust would not be entitled to get the exemption since it had not maintained books of accounts in respect of its incidental business. The assessee in the...

Trust Created for Benefit of Particular Community or Religious Group is not ‘Charitable Trust’: ITAT Denies Tax Exemption [Read Order]

The Hyderabad bench of ITAT has denied the tax exemption of said concern and said that Trust created for benefit of a particular community or a religious group is not ‘Charitable Trust’. In the...

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