https://www.taxtmi.com/caselaws?id=401244 The ITAT allowed the appeal, overturning the rejection of the trust's application for registration under Section 12AA of the Income-tax Act, 1961, by the CIT(Exemptions), Pune. The Tribunal found the trust's activities genuine and determined that corpus funds were capital in nature, not taxable, and did not need to be included in the Income & Expenditure Account. Consequently, the Tribunal directed the CIT(Exemptions) to grant the registration, affirming the trust's eligibility under Section 12AA. en-us Fri, 28 Aug 2020 00:00:00 +0530 Mon, 04 Nov 2024 13:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401244 The ITAT allowed the appeal, overturning the rejection of the trust's application for registration under Section 12AA of the Income-tax Act, 1961, by the CIT(Exemptions), Pune. The Tribunal found the trust's activities genuine and determined that corpus funds were capital in nature, not taxable, and did not need to be included in the Income & Expenditure Account. Consequently, the Tribunal directed the CIT(Exemptions) to grant the registration, affirming the trust's eligibility under Section 12AA. Case-Laws Income Tax Fri, 28 Aug 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401244