Cess Collected under BOCW Act is Taxable Income, not a Grant, Despite Section 12A Registration: ITAT [Read Order]

Considering the assessee registered under section 12A, ITAT denied exemption for cess collected under the BOWC Act and held that it was income from property under a trust, not grant
By Kavi Priya - On September 3, 2024 1:23 pm - 2 mins read
Income Tax - Cess Collection - Cess on Income Tax - TAXSCAN

The Delhi Bench of Income Tax Appellate Tribunal ( ITAT ) denied tax exemption for cess collected under the Building and Other Construction Work Act, 1996 ( BOCW Act ) despite Section 12A registration because the cess collected is taxable income under income derived from property held under trust and not a grant. Assessee, The…

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