https://www.taxtmi.com/caselaws?id=62370 Corpus donations supported by receipts and surrounding evidence were treated as capital receipts, and not as income merely because they were wrongly credited in the profit and loss account. Book entries were held not conclusive of the true character of the receipts. Expenditure on additions to fixed assets was also recognised as application of funds for charitable purposes. On that basis, the trust satisfied the conditions for approval, and the rejection based on an assumed breach of sections 11(2) and 11(5) was found unsustainable. Renewal of approval under section 80G(5) was therefore due. en-us Thu, 27 Aug 2009 00:00:00 +0530 Tue, 05 Nov 2013 10:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62370 Corpus donations supported by receipts and surrounding evidence were treated as capital receipts, and not as income merely because they were wrongly credited in the profit and loss account. Book entries were held not conclusive of the true character of the receipts. Expenditure on additions to fixed assets was also recognised as application of funds for charitable purposes. On that basis, the trust satisfied the conditions for approval, and the rejection based on an assumed breach of sections 11(2) and 11(5) was found unsustainable. Renewal of approval under section 80G(5) was therefore due. Case-Laws Income Tax Thu, 27 Aug 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62370