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Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
Taxability of amount received for specific purpose - Revenue Authorities have not disputed the contributions received but denied the exemption only due to the fact that the assessee is not registered u/s. 12A - observation of the CIT(A) that the assessee is not registered under any Law either as a Society or as a Trust is not factually correct - AR has produced a copy of the Registration Certificate duly registering the assessee-society under the Societies Registration Act vide Registration No.464 of 1995 - contributions received for a specific purpose cannot be treated as income u/s. 2(24)(iia) of the Act - AT
Taxability of amount received for specific purpose - Revenue Authorities have not disputed the contributions received but denied the exemption only due to the fact that the assessee is not registered u/s. 12A - observation of the CIT(A) that the assessee is not registered under any Law either as a Society or as a Trust is not factually correct - AR has produced a copy of the Registration Certificate duly registering the assessee-society under the Societies Registration Act vide Registration No.464 of 1995 - contributions received for a specific purpose cannot be treated as income u/s. 2(24)(iia) of the Act - AT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
