Tuesday, September 7, 2021

Corpus donations received by trust are taxable if it was not registered under sec. 12A: Chennai ITAT

INCOME TAX : Where assessee charitable trust was not registered under section 12A, voluntary donations received by it with a specific direction to be formed part of corpus of trust would fall within ambit of income of a trust derived from property held under trust and, hence, includible in total income of trust

from www.taxmann.com Latest Case Laws https://ift.tt/3hs6GWr

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AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

INCOME TAX : Where assessee had purchased a flat and incurred expenditure of Rs. 23 lakhs for purpose of renovating house and Assessing Offi...