Tribunal Denies Tax Exemption for School Contributions, Considers Them Regular Income Subject to Compliance.

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....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.....