Trustee bought car with charity funds but denied tax exemption. Registering in managing trustee's name for tax benefit rejected.

Trustee bought car with charity funds but denied tax exemption. Registering in managing trustee's name for tax benefit rejected. https://www.taxtmi.com/highlights?id=80421 Denial of exemption u/ss 11 and 12 due to car purchase in trustee's name using funds meant for charitable purposes. Assessee's argument of registering car in managing trustee's name to save taxes rejected. CIT(A) upheld Assessing Officer's decision. Assessee failed to provide details supporting car's use for charitable activities. Claim of submitting vehicle log book dismissed as unsupported. ITAT affirmed denial of exemption. en-us Wed, 14 Aug 2024 08:33:18 +0530 Wed, 14 Aug 2024 08:33:18 +0530 TaxTMI RSS Generator Trustee bought car with charity funds but denied tax exemption. Registering in managing trustee's name for tax benefit rejected. https://www.taxtmi.com/highlights?id=80421 Denial of exemption u/ss 11 and 12 due to car purchase in trustee's name using funds meant for charitable purposes. Assessee's argument of registering car in managing trustee's name to save taxes rejected. CIT(A) upheld Assessing Officer's decision. Assessee failed to provide details supporting car's use for charitable activities. Claim of submitting vehicle log book dismissed as unsupported. ITAT affirmed denial of exemption. Highlights Income Tax Wed, 14 Aug 2024 08:33:18 +0530 https://www.taxtmi.com/highlights?id=80421