https://www.taxtmi.com/caselaws?id=433330 The appeals by the assessee against the common order passed by NFAC for assessment years 2010-11 and 2012-13 were allowed. The tribunal held that specific voluntary donations towards the corpus of a trust, even for unregistered trusts, are not taxable as they are considered capital in nature. The denial of exemption for not having registration u/s. 12AA of the Act was overturned, and the additions made by the AO on account of corpus contributions treated as revenue receipts were deemed unjustified. en-us Tue, 17 Jan 2023 00:00:00 +0530 Fri, 27 Jan 2023 08:33:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433330 The appeals by the assessee against the common order passed by NFAC for assessment years 2010-11 and 2012-13 were allowed. The tribunal held that specific voluntary donations towards the corpus of a trust, even for unregistered trusts, are not taxable as they are considered capital in nature. The denial of exemption for not having registration u/s. 12AA of the Act was overturned, and the additions made by the AO on account of corpus contributions treated as revenue receipts were deemed unjustified. Case-Laws Income Tax Tue, 17 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433330