https://www.taxtmi.com/caselaws?id=64222 A charitable trust's exemption under sections 11 and 12 was treated as unavailable only for a technical defect if the audit report was not filed with the return but was submitted before assessment was completed; substantial compliance with section 12A(b) was accepted, so the exemption could not be denied on that ground. Donations supported by confirmations showing a specific direction that they form part of the corpus were treated as corpus receipts under section 2(24)(iia) and excluded from income, so the identified donations were not taxable income of the trust. The interest issue was consequential and required recomputation. en-us Tue, 27 Nov 1990 00:00:00 +0530 Sat, 05 Feb 2011 15:17:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64222 A charitable trust's exemption under sections 11 and 12 was treated as unavailable only for a technical defect if the audit report was not filed with the return but was submitted before assessment was completed; substantial compliance with section 12A(b) was accepted, so the exemption could not be denied on that ground. Donations supported by confirmations showing a specific direction that they form part of the corpus were treated as corpus receipts under section 2(24)(iia) and excluded from income, so the identified donations were not taxable income of the trust. The interest issue was consequential and required recomputation. Case-Laws Income Tax Tue, 27 Nov 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64222