|Income Tax Appellate Tribunal
Section 11/12 IT Act | Gross Receipts of Charitable Trusts Not Taxable Without Allowance of Admissible Expenses: ITAT Mumbai
ITAT Mumbai rules that denial of exemption under Sections 11/12 of the Income Tax Act does not permit taxation of gross receipts; allowable expenses must be computed under normal provisions. The ruling reinforces that technical defaults like delayed filings cannot justify taxing gross income without deducting legitimate expenses for charitable trusts.
