https://www.taxtmi.com/article/detailed?id=2004 The trust received a post-dated cheque, recorded it as donation receivable, and the cheque was honoured later; the AO denied exemption under Section 11 invoking deemed-benefit rules in Section 13, but appellate bodies found no use or application of trust property or services to the donor and upheld treatment as receivable. The Supreme Court affirmed that delivery of a cheque paid off on presentation may be treated as payment, while the author criticises treating handing over as the payment date for post-dated cheques and maintains realization date and accounting treatment control exemption entitlement. en-us Tue, 15 Jan 2013 17:35:26 +0530 Tue, 15 Jan 2013 17:35:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=2004 The trust received a post-dated cheque, recorded it as donation receivable, and the cheque was honoured later; the AO denied exemption under Section 11 invoking deemed-benefit rules in Section 13, but appellate bodies found no use or application of trust property or services to the donor and upheld treatment as receivable. The Supreme Court affirmed that delivery of a cheque paid off on presentation may be treated as payment, while the author criticises treating handing over as the payment date for post-dated cheques and maintains realization date and accounting treatment control exemption entitlement. Articles Income Tax Tue, 15 Jan 2013 17:35:26 +0530 https://www.taxtmi.com/article/detailed?id=2004