Tax Effect In Appeals Below Monetary Limit Of Rs.1 Crore: Kerala High Court Dismisses Dept's Appeal
Kerala, July 16, 2024: In a significant ruling, the Kerala High Court has upheld the tax exemption for a charitable trust under Section 12AA of the Income Tax Act, 1961. This decision brings clarity to the contentious issue of the taxability of additional fees collected by educational institutions. Case Background: The Trust, engaged in running educational institutions, had been under the scanner for allegedly collecting capitation fees, leading to significant…
