Contributions received for Charitable Purpose can’t be treated as Income u/s 2(24) (iia) of Income Tax Act: ITAT allows Appeal [Read Order]

By Sunayana Dhal - On July 8, 2023 8:00 pm - 2 mins read
Contributions received for Charitable Purpose treated as Income - Income Tax Act - ITAT allows Appeal - TAXSCAN

The Visakhapatnam bench of the Income Tax Appellate Tribunal (ITAT) held that the contributions received for any charitable purposes cannot be treated as income under Section 2(24) (iia) of the Income Tax Act, 1961. The assessee society was registered under Section 12A of the Income Tax Act and receives voluntary contributions and fees for maintaining…

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