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The Appellate Tribunal considered the applicability of u/s 11(1)(d) regarding the treatment of corpus donation as income from other sources. It held that the amended provisions introduced by the Finance Act, 2021 were not applicable for the assessment year 2018-19. The Tribunal found that the authorities erred in applying u/s 11(1)(d) retrospectively and set aside their orders. The decision favored the assessee as the amended provisions were not legally sustainable for the relevant assessment year.
The Appellate Tribunal considered the applicability of u/s 11(1)(d) regarding the treatment of corpus donation as income from other sources. It held that the amended provisions introduced by the Finance Act, 2021 were not applicable for the assessment year 2018-19. The Tribunal found that the authorities erred in applying u/s 11(1)(d) retrospectively and set aside their orders. The decision favored the assessee as the amended provisions were not legally sustainable for the relevant assessment year.
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