https://www.taxtmi.com/caselaws?id=218220 Section 12A registration permits a claim for charitable-tax exemption but does not establish entitlement unless income arises from property held wholly for charitable or religious purposes and is applied accordingly. Commercial leasing without established charitable activity or application of income does not meet those conditions, including the requirements for business income. Long-term lease receipts labelled advance rent may constitute premium or salami where paid for possession rather than as periodic rent; they are not sale consideration. Sinking-fund contributions remain revenue income where the recipient retains control and uses them to discharge its own obligations, so no diversion by overriding title occurs. Receipts treated as business income render an annual-value question under house-property provisions academic. en-us Thu, 25 Oct 2012 00:00:00 +0530 Thu, 08 Dec 2016 21:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=218220 Section 12A registration permits a claim for charitable-tax exemption but does not establish entitlement unless income arises from property held wholly for charitable or religious purposes and is applied accordingly. Commercial leasing without established charitable activity or application of income does not meet those conditions, including the requirements for business income. Long-term lease receipts labelled advance rent may constitute premium or salami where paid for possession rather than as periodic rent; they are not sale consideration. Sinking-fund contributions remain revenue income where the recipient retains control and uses them to discharge its own obligations, so no diversion by overriding title occurs. Receipts treated as business income render an annual-value question under house-property provisions academic. Case-Laws Income Tax Thu, 25 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=218220