ITAT, Mumbai: Corpus Donations Received by Trust Not Taxable, Even If Trust Is unregistered - (18 Apr 2022)
DIRECT TAXATION
Income Tax Appellate Tribunal, Mumbai has held that the corpus donations received by a Trust for a specific purpose are not taxable, even if the Trust is unregistered under Section 12 A of the Income Tax Act, 1961 since they are in the nature of a capital receipt.
Tags : INCOME TAX APPELLATE TRIBUNAL SECTION 12 A OF THE INCOME TAX ACT 1961 CAPITAL RECEIPT
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