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2 results for “charitable trust”+ Section 50C(2)clear

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Section 12A3 Section 2632 Section 1542 TDS2

BHARATPUR ROYAL FAMILY RELIGIOUS & CEREMONIAL TRUST,BHARATPUR vs. CIT(E), JAIPUR

In the result, we upheld the order of the ld PCIT in exercise of his powers u/s 263 in setting aside the order so passed by the AO and the grounds of appeal taken by the assessee are hereby dismissed

ITA 290/JPR/2020[2011-12]Status: DisposedITAT Jaipur13 Jul 2021AY 2011-12

For Appellant: Sh. P. C. Parwal (CA)For Respondent: Sh. Rajendra Singh (CIT)

Section 10Section 12ASection 154Section 24Section 263Section 297

50C are applicable in respect of the capital gain assessable in the hands of a trust. So far as the exemption available to the Trust in respect of the Capital gain arising from sale of capital asset being property held under Trust, section 11(1A) of the IT Act contemplates the treatment of such income is applicable which reads

BHARATPUR ROYAL FAMILY RELIGIOUS & CEREMONIAL TRUST,BHARATPUR vs. CIT(E), JAIPUR

BHARATPUR ROYAL FAMILY RELIGIOUS & CEREMONIAL TRUST,BHARATPUR vs. CIT(E), JAIPUR

PRATIMA PANWAR,JAIPUR vs. I.T.O, WARD 3(3), JAIPUR, JAIPUR