Voluntary Contribution received towards Corpus by an Unregistered Trust u/s 12A is Capital Receipt and doesn’t amount to Tax: ITAT [Read Order]

Voluntary - Contribution - Corpus - Unregistered - Trust - Capital - Receipt - amount – Tax – ITAT – TAXSCAN

The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) held that voluntary contribution received towards corpus by an unregistered trust under Section 12A of the Income Tax Act, 1961 is a capital receipt and doesn’t amount to tax. The assessee trust has filed its return of income declaring a total income of Rs.1,08,550/- after…

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