Deeming rule for unutilised disaster relief donations converts them into taxable income if not transferred by the deadline. An inserted proviso deems donations that were intended for disaster relief but used otherwise, or that remain unutilised and are not transferred to the national relief fund by the prescribed deadline, to be the income of the previous year and chargeable to tax.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Deeming rule for unutilised disaster relief donations converts them into taxable income if not transferred by the deadline.
An inserted proviso deems donations that were intended for disaster relief but used otherwise, or that remain unutilised and are not transferred to the national relief fund by the prescribed deadline, to be the income of the previous year and chargeable to tax.
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