https://www.taxtmi.com/caselaws?id=767692 The ITAT Bangalore dismissed the assessee trust's appeal regarding disallowed donations to an unregistered trust under section 12A, upholding that charitable exemptions require recipient entities to be registered and proper documentation of charitable purpose. However, the tribunal allowed various disputed expenses including TDS interest, statutory penalties, gifts, statue expenses, and ITC write-offs as legitimate applications of income incidental to charitable purposes, citing relevant HC and SC precedents. The tribunal also accepted the trust's accumulation claim under section 11(2), ruling that amounts in bank accounts and existing FDRs constitute valid investments under section 11(5). en-us Tue, 18 Feb 2025 00:00:00 +0530 Sat, 22 Mar 2025 08:34:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=767692 The ITAT Bangalore dismissed the assessee trust's appeal regarding disallowed donations to an unregistered trust under section 12A, upholding that charitable exemptions require recipient entities to be registered and proper documentation of charitable purpose. However, the tribunal allowed various disputed expenses including TDS interest, statutory penalties, gifts, statue expenses, and ITC write-offs as legitimate applications of income incidental to charitable purposes, citing relevant HC and SC precedents. The tribunal also accepted the trust's accumulation claim under section 11(2), ruling that amounts in bank accounts and existing FDRs constitute valid investments under section 11(5). Case-Laws Income Tax Tue, 18 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=767692