https://www.taxtmi.com/highlights?id=75550 Exemption u/s. 11(1)(d) - contributions received from students towards development and welfare funds of the school - voluntary contribution or otherwise - The ITAT confirmed the disallowance of exemption under section 11(1)(d) of the Act, holding that the contributions received from students/parents were not voluntary and lacked a written direction to form part of the corpus donation. - However, tribunal observed that, receipts would nevertheless form part of the assessee’s regular receipt, i.e., from the activity of running the school and, accordingly, liable for exemption u/s. 11(1)(a), i.e., if otherwise exigible, in accordance with law. en-us Sat, 09 Mar 2024 13:15:35 +0530 Sat, 09 Mar 2024 13:15:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=75550 Exemption u/s. 11(1)(d) - contributions received from students towards development and welfare funds of the school - voluntary contribution or otherwise - The ITAT confirmed the disallowance of exemption under section 11(1)(d) of the Act, holding that the contributions received from students/parents were not voluntary and lacked a written direction to form part of the corpus donation. - However, tribunal observed that, receipts would nevertheless form part of the assessee’s regular receipt, i.e., from the activity of running the school and, accordingly, liable for exemption u/s. 11(1)(a), i.e., if otherwise exigible, in accordance with law. Highlights Income Tax Sat, 09 Mar 2024 13:15:35 +0530 https://www.taxtmi.com/highlights?id=75550