Ito vs Human Resource Development And Management Trust (Asbm Trust)

Authority: ITAT Tribunal/Court: Cuttack Date: 2011-07-29 AY: 2000-01 Section: 11, 13, 143(3) Acts: Income Tax Act 1961, Sections 11, 12AA, 13, 143(3) Result: Assessee Citation: 911 Taxpundit 17 Justices: K.K. Gupta, Accountant Member and K.S.S. Prasad Rao, Judicial Member Appeal No: IT Appeal No. 127 (Ctk.) of 2011, C.O. No. 14 (Ctk.) of 2011
Whether capital expenditure incurred by a charitable educational trust for constructing infrastructure qualifies as 'application of income' under Section 11 of the Income Tax Act, 1961 --- Held Yes. Whether generation of surplus from fees and its application towards capital assets indicates a profit motive tainting charitable status --- Held No. Whether payment of reasonable salary to a trustee for services rendered violates Section 13(2)(c) --- Held No. Whether running a 'finishing school' constitutes a distinct business activity disentitling exemption --- Held No. Whether fees collected were excessive 'capitation fees' --- Held No.

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