https://www.taxtmi.com/caselaws?id=421739 The ITAT ruled in favor of the assessee, a trust, in the appeal against CIT(A) orders for assessment years 2009-2010, 2010-2011, and 2011-2012. The ITAT held that corpus donations for the building fund should be considered capital receipts, not taxable revenue. It emphasized the importance of establishing a direct nexus between hall rents and donations, directing the AO to reexamine the matter. The ITAT also highlighted violations of natural justice principles in the assessment proceedings and discrepancies in the treatment of donations as revenue receipts, leading to allowing the assessee's appeal for 2009-2010 and remitting similar appeals for further review. en-us Fri, 08 Apr 2022 00:00:00 +0530 Sat, 30 Apr 2022 08:12:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=421739 The ITAT ruled in favor of the assessee, a trust, in the appeal against CIT(A) orders for assessment years 2009-2010, 2010-2011, and 2011-2012. The ITAT held that corpus donations for the building fund should be considered capital receipts, not taxable revenue. It emphasized the importance of establishing a direct nexus between hall rents and donations, directing the AO to reexamine the matter. The ITAT also highlighted violations of natural justice principles in the assessment proceedings and discrepancies in the treatment of donations as revenue receipts, leading to allowing the assessee's appeal for 2009-2010 and remitting similar appeals for further review. Case-Laws Income Tax Fri, 08 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=421739