payment which
is with a specific direction that it for corpus fund is a corpus donation. In our
considered view, even without ... payment which
is with a specific direction that it for corpus fund is a corpus donation. In our
considered view, even without
specific
direction that it shall be for corpus fund- as admittedly the present receipt is, is
required to be treated as corpus donation ... payment which is with a specific direction that it for
corpus fund is a corpus donation. In our considered view, even without
M/S Jharkhand State Cricket ... vs Dcit Exemption, Ranchi on 15 March, 2019
IN THE
corpus of the trust or
institutions. Prior to this amendment, voluntary contribution with a
specific direction, which is also known as corpus donation ... voluntary
contributions with specific direction was never considered as income
and totally excluded from the taxation. Such corpus donations are
exempt in principle only
income at all. The donations were made with the specific directions for the corpus of the trust and were, therefore, exempt under Section ... case whether a specific direction was there or not, even where there were no written directions accompanying the donations. However, at the same time
specific direction that it shall be for corpus
fund- as admittedly the present receipt is, is required to be treated as corpus
donation ... payment which is with a
specific direction that it for corpus fund is a corpus donation. In our considered view,
even without
specific direction is ₹ nil. In these
circumstances and because of the several
observation of the learned Assessing Officer which
clearly hints that the corpus donation ... officer to verify what kind of
specific direction the donor has given stating the
object of utilizing corpus donation. With respect to
the loan
nature of donation
b. The donation is made voluntarily
c. The donor gives a specific direction that the donation ... arise. Therefore,
there has been no specific direction from the applicants to treat these fees
as corpus donation. To avail exemption under Section
cannot be said that
there is no specific direction of the donor towards the
Corpus donations. In view of the provisions of
Section ... cannot be seen as having
used specific directions of the donor towards corpus funds and
accordingly such corpus donations cannot be treated as revenue
obligation and with a specific direction that it
shall be for corpus fund, is required to be treated as corpus donation not
includible ... income--Any payment which is with a specific direction that
it for corpus fund is a corpus donation--In the light of the BCCI
