“Section 2(24)(iia)”

Section References (mined)Section 2Section 2(24)(iia)48 judgments

The decision most relied on for Section 2(24)(iia) is CIT v. Yokogawa India Ltd. (341 ITR 385), cited in 270 judgments on BharatTax.

Leading authorities on Section 2(24)(iia)

CIT v. Yokogawa India Ltd.

341 ITR 385 · 2012 · High Court

270

citing judgments

A provision for doubtful debts cannot be added back while computing book profits under Section 115JB of the Income-tax Act for Minimum Alternate Tax (MAT) purposes.

DCIT v. Gloster Jute Mills Limited

88 Taxmann.com 738 · 2017 · ITAT

citing judgments

Additional depreciation under Section 32(1)(iia) can be claimed in the year an asset is acquired and installed, even if it is claimed in a subsequent year of acquisition and installation.

Everest Industries Ltd. v. JCIT

90 Taxmann.com 330 · 2018 · ITAT

citing judgments

Additional depreciation under section 32(1)(iia) is allowable every year, distinguishing previous decisions that limited it to the initial assessment year.

CIT v. HDFC Bank

104 Taxmann.com 97 · 2019 · High Court

citing judgments

Disallowance under Section 14A is not warranted merely because an assessee has sufficient interest-free funds to make investments that yield exempt income. No disallowance is called for if no expenditure is found to have been incurred for earning exempt income.

Sasisri Extractions Ltd. v. ACIT

122 ITD 428 · 2010 · ITAT

citing judgments

Where a capital investment subsidy is provided to accelerate industrial development, it is not to be reduced from the cost of assets for the purpose of calculating depreciation. Explanation 10 to Section 43(1) does not apply in such cases if the scheme's object is to accelerate industrial development.

CIT v. Trustees of Kasturbai Scindia Commission Trust

189 ITR 5 · 1991 · High Court

citing judgments

Voluntary contributions specifically received towards the corpus of a trust cannot be brought to tax as income. Funds created for specific objectives remain capital funds and are not to be pooled with normal income.

Shri Shankar Bhagwan Estate v. ITO

61 ITD 196 · 1997 · ITAT

citing judgments

Corpus donations received by a trust are not taxable income, and the corpus itself is not includible in the trust's income. This principle is supported by the interpretation of Section 2(24)(iia) in conjunction with Section 12 of the Income Tax Act.

Arthur Anderson & Co. v. ACIT

324 ITR 240 · 2010 · High Court

citing judgments

Allowing deduction of interest paid by the assessee as business expenditure u/s.37(1) of the Act is not permissible when netting off interest received against interest paid.

Judgments citing Section 2(24)(iia)

Shri Soji Jain Shweta Derasar Murti Punjak Sangh, Anand vs. The ITO, Ward(Exemption), Vadodara

In the result, the appeal of the assessee is dismissed

ITA 929/AHD/2024[2012-13]Status: DisposedITAT Ahmedabad18 Feb 2025AY 2012-13

Bench: Dr. B.R.R. Kumar, Vice-Ms. Suchitra Kamble

For Appellant: Shri Hiral Patel & Shri Bhavesh Soni, ARsFor Respondent: Shri A.P. Singh, CIT-DR

Section 11Section 11(1)(d)Section 12ASection 12A(2)Section 143(3)Section 250

specific purpose and were dealt u/s 2(24)(iia) of the Act. 10.3 For the sake of ready reference, the provisions of Section 2(24)(iia) of the Act as to what constitute “Income” is as under:- “(iia) voluntary contributions received by a trust created wholly or partly for charitable ... contribution received without direction that it forms part of corpus is taxable under the head income from other sources. 10.6 The “Income” under Section 2(24)(iia) of the Act would not form part of total income u/s 11 and 12A of the Act only if the assessee is registered

Karnataka Chinmaya Seva Trust, Bengaluru vs. DCIT-(Exemptions) Circle-1, Bangalore

ITA 1266/BANG/2024[2012-13]Status: DisposedITAT Bangalore19 Nov 2024AY 2012-13

Bench: Mrs. Beena Pillai & Shri Ramit Kochar

For Appellant: Revenue byFor Respondent: Date of hearing

Section 11Section 11(1)(a)Section 12ASection 143(1)Section 143(2)Section 143(3)Section 80G(5)(vi)

IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE “A” BENCHES, BANGALORE BEFORE MRS. BEENA PILLAI, JUDICIAL MEMBER AND SHRI RAMIT KOCHAR

Karnataka Chinmaya Seva Trust, Bengaluru vs. DCIT-(Exemptions) Circle-1, Bangalore

ITA 1265/BANG/2024[2011-12]Status: DisposedITAT Bangalore19 Nov 2024AY 2011-12

Bench: Mrs. Beena Pillai & Shri Ramit Kochar

For Appellant: Revenue byFor Respondent: Date of hearing

Section 11Section 11(1)(a)Section 12ASection 143(1)Section 143(2)Section 143(3)Section 80G(5)(vi)

IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE “A” BENCHES, BANGALORE BEFORE MRS. BEENA PILLAI, JUDICIAL MEMBER AND SHRI RAMIT KOCHAR

Nalwadi Charitable Trust, Delhi vs. ITO Ward Exemp 2(4), New Delhi

In the result, appeal of the assessee is allowed

ITA 1778/DEL/2024[2020-21]Status: DisposedITAT Delhi30 Oct 2024AY 2020-21

Bench: Shri Vikas Awasthyआअसं.1778/िद"ी/2024 (िन.व. 2020-21) Nalwadi Charitable Trust, B-60/61, C/O Bajaj Auto Limited, Naraina Industrial Area Phase-Ii, New Delhi 110028 ...... अपीलाथ"/Appellant Pan: Aaatn-0324-N

For Appellant: Ms. Vasanti Patel, Advocate and Shri Mahendra Gohel, Chartered AccountantFor Respondent: Ms. Shivani Bansal, Sr. DR

Section 11Section 11(1)(d)Section 12(1)Section 12ASection 12A(1)Section 139(1)Section 143(1)

ld.DR that since section 11(d) specifically exempts corpus donation , therefore corpus donations are to be treated as income in terms of section 2(24)(iia) of the Act need not to be dealt with by us, considering the uniform view taken by the ITAT on the issue as above

Tirupur South Rotary Educational Trust, Tirupur vs. The ACIT, Exemtions, Coimbatore

In the result, appeal filed by the assessee is allowed for statistical purposes

ITA 1107/CHNY/2024[2022-23]Status: DisposedITAT Chennai18 Sept 2024AY 2022-23

Bench: Shri Aby T. Varkey & Shri Manoj Kumar Aggarwalआयकर अपील सं./Ita No.1107/Chny/2024 िनधा"रण वष"/Assessment Year: 2022-23 V. Tirupur South Rotary – The Acit (Exemptions), Educational Trust, Coimbatore. South Rotary Hall, Nataraj Theatre Road, Tirupur-641 604. [Pan: Aabtt 7879 H] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Mr. S. Sridhar, Adv. (Erode)For Respondent: Ms. R. Anita, Addl.CIT

Section 11Section 11(5)Section 119(2)(b)Section 12ASection 12A(1)(b)Section 139(1)Section 143(1)Section 2(24)(iia)Section 44A

section 11 which includes section 11(5). Therefore, the receipt through corpus donation is chargeable to tax as per the provision of section 2(24)(iia) and benefit of section 11 is not allowable. The case laws relied upon by appellant are in respect of revenue receipt and expenditure

Credit Guarantee Fund Trust for Micro and Small Enterprises, Mumbai vs. Deputy Commissioner of Income Tax (Exemption)-1(1), Mumbai

ITA 2045/MUM/2024[2012-13]Status: DisposedITAT Mumbai25 Jul 2024AY 2012-13

Bench: Shri Narendra Kumar Billaiya, Hon'Ble & Smt. Kavitha Rajagopal, Hon'Ble

For Appellant: Shri Shailesh Shah & Shri Jay Dharod, A/RFor Respondent: Shri H.M. Bhatt, Sr. D/R

Section 11(1)(a)Section 11(1)(d)Section 12ASection 2(15)Section 2(24)Section 2(24)(iia)

INCOME TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI BEFORE SHRI NARENDRA KUMAR BILLAIYA, HON'BLE ACCOUNTANT MEMBER & SMT. KAVITHA RAJAGOPAL, HON

Assistant Commissioner of Income Tax, Circle ( Exemption ), Nagpur vs. M/S Shri Dadasaheb Gawai, Nagpur

In the result, appeal filed by the Revenue is dismissed

ITA 2/NAG/2018[2014-2015]Status: DisposedITAT Nagpur11 Jul 2024AY 2014-2015

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

For Appellant: Shri Manoj G. MoryaniFor Respondent: Shri Kailash C. Kanojiya

Section 115BSection 12A

addition has been made for anonymous donations. As mentioned above, anonymous donation means where the person, receiving such voluntary contribution, as referred in section 2(24)(iia), does not maintain a record of the identity indicating name and address of the donors. Shri Dadasaheb Gawai Charitable Trust ITA no.2/Nag./2018 ... First of all, these donations have been received by an educational institution which is claiming exemption u/s 10(23C)(iiiab). However, Section 2(24)(iia) nowhere mentions such institutions as falling u/s. 10(23C)(iiab). Further, these donations are not found to be anonymous donations. The appellant has given complete

Gemmological Institute of India, Mumbai vs. Income Tax Officer (Exemp) - 1(3), Mumbai

ITA 4055/MUM/2023[2014-15]Status: DisposedITAT Mumbai20 Jun 2024AY 2014-15

Bench: Shri. Padmavathy S.

Section 11Section 12ASection 143Section 143(3)Section 250

charitable trust and not of a business entity as has been claimed by the appellant/assessee. The Ld. DR has further referred to Section 2(24)(iia) of "the Act" and submitted that the voluntary contributions received by a trust created for charitable purposes or by an institutions established for such ... settled legal proposition that voluntarily contribution towards the corpus are outside the scope of income as defined in Section 2(24)(iia) due to their capital nature and are not taxable. iii. As mandated by the donors, out of total donations of Rs. 1,15,00,000/- the appellant purchased

Shri Merh Kshtriya Sabha, Ajmer vs. CIT(Appeals), Delhi

In the result, the appeal of the assessee is dismissed

ITA 632/JPR/2023[2016-17]Status: DisposedITAT Jaipur27 May 2024AY 2016-17

For Appellant: None

Section 11(1)Section 115BSection 12ASection 142Section 142(1)Section 143(2)Section 143(3)Section 80G

relied upon the decision supports the stand of the Assessing Officer that in absence of identity details of donor's, section 115BBC and section 2(24)(iia) of the Act are squarely applicable. Also Section 115BBC clearly states that the amount of income tax calculated at the rate of thirty ... been taken directly to balance sheet & not in income & expenditure account but in computation & return same declared as income in terms of section 2(24)(iia). Kindly verify. Para 25.2 of circular no. (1) With respect to circular no. 14 dated 28.12.2006 and circular no. 5 dated 03.06.2010 your attention

DCIT, C-1 (E), Chandigarh vs. M/S Shri Aurobindo Socio Economic & Management Research Institute, Ludhina

In the result, whereas the assessee's appeal in ITA

ITA 1375/CHANDI/2019[2015-16]Status: DisposedITAT Chandigarh01 May 2024AY 2015-16

Bench: SHRI A.D.JAIN (Vice President), SHRI VIKRAM SINGH YADAV (Accountant Member)

For Appellant: Shri Tej Mohan Singh, AdvocateFor Respondent: Smt. Kusum Bansal, CIT, DR

Section 11Section 11(1)Section 11(2)

therein. The corpus donations are, thus, eligible corpus donations, requiring exemption under the provisions of Section 11(1)(d) read with those of Section 2(24)(iia) of the Act. 8.4 Exemption u/s 11 of the Act has been denied to the assessee, as in the earlier year ... preceding paragraphs, we have held the corpus donations to be eligible for exemption u/s 11(1)(d) read with Section 2(24)(iia) of the Act. In accordance therewith, on parity of facts in the year under consideration also, Ground No.6 is accepted and exemption on corpus donation

Sir Aurobindo Socio Economic & Management Research Institute, Ludhiana vs. DCIT, C-1 (E), Chandigarh

In the result, whereas the assessee's appeal in ITA

ITA 1348/CHANDI/2019[2015-16]Status: DisposedITAT Chandigarh01 May 2024AY 2015-16

Bench: SHRI A.D.JAIN (Vice President), SHRI VIKRAM SINGH YADAV (Accountant Member)

For Appellant: Shri Tej Mohan Singh, AdvocateFor Respondent: Smt. Kusum Bansal, CIT, DR

Section 11Section 11(1)Section 11(2)

Gemmological Inistitute of India, Mumbai vs. ITO Exem. Ward 1(3), Mumbai

In the result, all the three appeals of the assessee are allowed

ITA 3785/MUM/2023[2017-18]Status: DisposedITAT Mumbai15 Apr 2024AY 2017-18

Bench: Justice (Rtd.) C.V. Bhadang () & Shri B.R. Baskaran (Am)

Section 11Section 12Section 12ASection 2(15)Section 2(24)(iia)Section 43Section 80G

IN THE INCOME TAX APPELLATE TRIBUNAL Mumbai “G” Bench, Mumbai. Before Justice (Rtd.) C.V. Bhadang (President) & Shri B.R. Baskaran (AM

Gemmological Inistitute of India, Mumbai vs. ITO Exem. Ward 1(3), Mumbai

In the result, all the three appeals of the assessee are allowed

ITA 3784/MUM/2023[2016-17]Status: DisposedITAT Mumbai15 Apr 2024AY 2016-17

Bench: Justice (Rtd.) C.V. Bhadang () & Shri B.R. Baskaran (Am)

Section 11Section 12Section 12ASection 2(15)Section 2(24)(iia)Section 43Section 80G

IN THE INCOME TAX APPELLATE TRIBUNAL Mumbai “G” Bench, Mumbai. Before Justice (Rtd.) C.V. Bhadang (President) & Shri B.R. Baskaran (AM

The Nehru Memorial Education Society, Kanhangad vs. ITO Exemptions, Kannur

In the result, the assessee’s appeal is allowed

ITA 159/COCH/2023[2013-14]Status: DisposedITAT Cochin07 Mar 2024AY 2013-14

Bench: Shri Sanjay Arora & Dr. S. Seethalakshmithe Nehru Memorial The Income Tax Officer Education Society (Exemptions), Kannur Lakshmi Nivas Vs. Kanhangad - 671315 Kasaragod [Pan:Aabtt0633M] (Appellant) (Respondent)

For Appellant: Shri P.M. Veeramani, CAFor Respondent: Smt. J.M. Jamuna Devi, Sr. D.R

Section 10Section 11(1)Section 11(1)(d)Section 12ASection 143(1)Section 143(1)(a)Section 154Section 2

which we had earlier directed for examining the exclusion of the income to the extent of Rs.11.19 lakh (para 3.2). In Sum 4. Section 2(24)(iia) of the Act, defining income, makes no exception for a voluntary contribution received toward corpus, so that it is income by definition, though

Carmel Convent, Thiruvananthapuram vs. ITO Exemption Ward, Trivandram, Thiruvananthapuram

In the result, the assessee’s appeal is partly allowed and partly allowed for statistical purposes, and it’s stay petition is dismissed

ITA 689/COCH/2022[2016-2017]Status: DisposedITAT Cochin07 Mar 2024AY 2016-2017

Bench: Shri Sanjay Arora & Dr. Seethalakshmi

For Appellant: Shri Anil D. Nair, AdvocateFor Respondent: Smt. J.M. Jamuna Devi, Sr. D.R

Section 11(1)Section 11(1)(d)Section 12ASection 143(3)

IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN Before Shri Sanjay Arora, Accountant Member and Dr. Seethalakshmi, Judicial Member

Radhakrishna Akshar Vikas Nyas, Vidisha vs. The ACIT 3 (1), Bhopal

In the result, appeal of the assessee is partly allowed

ITA 398/IND/2022[2011-12]Status: DisposedITAT Indore21 Feb 2024AY 2011-12

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaniradhakrishna Akshar Vikas Acit 3(1) Nyas Bhopal Vs. Braj Colony Sironj Vidisha (Appellant / Assessee) (Respondent/ Revenue) Pan: Aaatr 8725M Assessee By S/Shri Sumit Nema, Sr. Adv. & Gagan Tiwari Adv. Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 29.01.2024 Date Of Pronouncement 21.02.2024

Section 11Section 115BSection 68

contribution and such other particulars as may be prescribed.]” 8. Therefore, the anonymous donation is defined as any voluntary contribution referred to in section 2(24)(iia) where a person receiving such contribution does not maintain a record of the identity indicating the name and address of the person making ... addition to identity, name and address of the person making the contribution, as provided under sub-section (3) of section 115-BBC. Section 2(24)(iia) gives definition of anonymous donation. Appellant (assessee) must first be shown to have received anonymous donation. 6. We have perused the assessment order

ACIT Circle-49(1), New Delhi vs. Financial Inclusion Trust, New Delhi

In the result the appeal of the Revenue in ITA No

ITA 2001/DEL/2020[2009-10]Status: DisposedITAT Delhi03 Nov 2023AY 2009-10

Bench: Shri N.K. Billaiya & Ms Astha Chandra

For Appellant: Shri K.V.S.R Krishna, CAFor Respondent: Shri T. James Singson, CIT-DR

Section 11(1)(d)Section 12ASection 143(3)Section 2(24)Section 263Section 80G

concerned, this section has to be read in the context of the introduction of the present section 12. It is significant that section 2(24)(iia) was inserted w.e.f. 01-04- 1973 simultaneously with the present section 12. Section 12 makes it clear by the words appearing in parenthesis that ... Research Foundation wherein it is held that corpus specific voluntary contribution being in nature of capital receipt, are outside scope o income under section 2(24)(iia) and, thus same cannot be brought to tax even in case of trust not registered u/s. 12A / 12AA

Vishwakarma Educational Trust, Trivandrum vs. DCIT, Exemption Circle, Trivandrum

In the result, the appeal by the assessee is partly allowed

ITA 901/COCH/2022[2018-19]Status: HeardITAT Cochin11 Oct 2023AY 2018-19

Bench: Shri Sanjay Arora & Shri Manomohan Dasvishwakarma Dy. Cit (Exemptions) Educational Trust Aayakar Bhavan 14, Ulloor Lane Peroorkada Road, Kowdiar Vs. Dpi Junction, Jagathy Thiruvananthapuram 695003 Trivandurm 695014 [Pan:Aaatv1824D] (Appellant) (Respondent) Assessee By: Smt. Parvathy Ammal, Ca Revenue By: Smt. J.M. Jamuna Devi, Sr. D.R. Date Of Hearing: 12.09.2023 Date Of Pronouncement:11.10.2023 O R D E R Per Sanjay Arora, Am This Is An Appeal By The Assessee Agitating The Dismissal Of It’S Appeal Contesting The Processing Of It’S Return Of Income Under Section 143(1) Of The Income Tax Act, 1961 (Hereinafter ‘The Act’) Dated 30.10.2019 For Assessment Year (Ay) 2018-19,By The Commissioner Of Income Tax (Appeals), Income Tax Department (Nfac, Delhi) [Cit(A)] Vide Order Dated 25.7.2022. 2. The Brief Facts Of The Case Are That The Assessee, A Charitable Trust Registered U/S. 12Aa Of The Act, Filed It’S Return Of Income For The Relevant Year On 28.8.2018 Declaring Nil Income, I.E., Claiming Exemption U/S. 11 On The Entirety Of It’S Income. The Same Was Processed U/S.143(1)(A) Of The Act, Denying It The Benefit Of Section 11 Of The Act, I.E., At An Income Of Rs. 13,34,692. The Denial Of Exemption Was For The Reason Of Non-Audit Of It’S Accounts And, Consequently, Non-Filing Of The Audit Report, Required To Be Filed In The Prescribed Form (Form 10B), Along With The Return Of

For Appellant: Smt. Parvathy Ammal, CAFor Respondent: Smt. J.M. Jamuna Devi, Sr. D.R

Section 11Section 11(1)(a)Section 11(1)(d)Section 12Section 12(1)Section 12ASection 12A(1)(b)Section 139Section 143(1)Section 143(1)(a)

IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN Before Shri Sanjay Arora, Accountant Member and Shri Manomohan Das, Judicial

Indian Medical Association, Nagpur vs. CIT(Exemption), Pune

In the result, appeal of the assessee is allowed for statistical purpose

ITA 18/NAG/2020[00]Status: DisposedITAT Nagpur12 Sept 2023

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकर अपील सं. / Ita No.18/Nag/2020 िनधा"रण वष" / Assessment Year : - Indian Medical Association, The Cit Exemption, Ima Building, Station Vs Pune. Road, Bhandara, Maharashtra – 441904. Pan: Aabti 7140 N Appellant / Assessee Respondent / Revenue Assessee By None Revenue By Shri Kailash Kanojiya – Sr.Dr Date Of Hearing 31/08/2023 Date Of Pronouncement 12/09/2023 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Is An Appeal Filed By The Assessee Against The Order Of Ld.Commissioner Of Income Tax(Exemption), Pune Rejecting The Assessee’S Application For Registration Under Section 12Aa(1)(B)(Ii) Of The Income Tax Act, 1961 Dated 30.11.2019. The Assessee Has Raised The Following Grounds Of Appeal : “1. The Order Passed Is Without Basis & Is Bad In Law. Indian Medical Association [A]

Section 12A

filed by the assessee. The ld.CIT(E) stated the such income of Rs.37.25 lakhs should have been offered by assessee as income under section 2(24)(iia) of the Act. Therefore, ld.CIT(E) concluded that assessee is not eligible for registration under section 12AA of the Act. 4.1 However, assessee

National Institute of Bank Management, Mumbai vs. ACIT, Exemption, Circle-1, Mumbai

In the result, the appeal filed by the assessee for AY 2015-16 is partly allowed for statistical purposes and both the appeal filed by the assessee for AY

ITA 756/MUM/2023[2017-18]Status: DisposedITAT Mumbai05 Jul 2023AY 2017-18

Bench: Shri Vikas Awasthy & Shri Gagan Goyal

For Respondent: Shri S. Ananthan & Ms. Lalitha

Section 10Section 11Section 11(2)Section 12ASection 250Section 80G

received by the appellant was a capital receipt or tied up grants for specific purpose and thus, cannot be regarded as income under Section 2(24)(iia) of the Act. For all these and other grounds, which may be urged at the time of hearing, the appellant prays that