https://www.taxtmi.com/caselaws?id=401429 The Court ruled in favor of the assessee, holding that the assessing officer and appellate forums have jurisdiction to adjudicate the genuineness of trust receipts under Sections 12A and 12AA of the IT Act. Additionally, voluntary contributions received by the appellant were not considered as capitation fees and were not taxable. The Court relied on previous judgments that favored the assessee's position, emphasizing the importance of consistency in legal interpretation. Consequently, the appeal was allowed, and the Income Tax Appellate Tribunal's order for the Assessment Year 2010-11 was quashed. en-us Wed, 11 Nov 2020 00:00:00 +0530 Sun, 06 Dec 2020 21:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401429 The Court ruled in favor of the assessee, holding that the assessing officer and appellate forums have jurisdiction to adjudicate the genuineness of trust receipts under Sections 12A and 12AA of the IT Act. Additionally, voluntary contributions received by the appellant were not considered as capitation fees and were not taxable. The Court relied on previous judgments that favored the assessee's position, emphasizing the importance of consistency in legal interpretation. Consequently, the appeal was allowed, and the Income Tax Appellate Tribunal's order for the Assessment Year 2010-11 was quashed. Case-Laws Income Tax Wed, 11 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401429