https://www.taxtmi.com/caselaws?id=755790 ITAT Delhi ruled that corpus donations constitute capital receipts outside the scope of income under section 2(24)(iia), making them non-taxable even for trusts not registered under section 12A. The tribunal followed precedents from Hosanna Ministries and Serum Institute of India Research Foundation, holding that voluntary contributions of a corpus-specific nature cannot be brought to tax regardless of the trust's registration status. The decision favored the assessee, establishing that capital receipts from corpus donations are exempt from taxation. en-us Fri, 03 Nov 2023 00:00:00 +0530 Thu, 18 Jul 2024 15:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=755790 ITAT Delhi ruled that corpus donations constitute capital receipts outside the scope of income under section 2(24)(iia), making them non-taxable even for trusts not registered under section 12A. The tribunal followed precedents from Hosanna Ministries and Serum Institute of India Research Foundation, holding that voluntary contributions of a corpus-specific nature cannot be brought to tax regardless of the trust's registration status. The decision favored the assessee, establishing that capital receipts from corpus donations are exempt from taxation. Case-Laws Income Tax Fri, 03 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=755790