https://www.taxtmi.com/highlights?id=85765 ITAT upheld the AO's decision to treat one-time life membership and institutional membership fees as non-corpus funds, making them ineligible for exemption under Section 11(1)(d). The Tribunal determined these fees were not voluntary contributions, rendering irrelevant whether they were specifically directed to form part of the corpus fund or their revenue/capital nature. The receipts were classified as income from property held under trust, with the AO permitting a 15% set-apart allowance. The appellant's challenge was dismissed, affirming that such membership fees must be included in the assessee's taxable income. en-us Sat, 15 Feb 2025 08:00:46 +0530 Sat, 15 Feb 2025 08:00:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=85765 ITAT upheld the AO's decision to treat one-time life membership and institutional membership fees as non-corpus funds, making them ineligible for exemption under Section 11(1)(d). The Tribunal determined these fees were not voluntary contributions, rendering irrelevant whether they were specifically directed to form part of the corpus fund or their revenue/capital nature. The receipts were classified as income from property held under trust, with the AO permitting a 15% set-apart allowance. The appellant's challenge was dismissed, affirming that such membership fees must be included in the assessee's taxable income. Highlights Income Tax Sat, 15 Feb 2025 08:00:46 +0530 https://www.taxtmi.com/highlights?id=85765