https://www.taxtmi.com/caselaws?id=64409 The interest income of Rs. 5,200 was deemed taxable due to the lack of adequate security for the loan received. Additionally, the Rs. 16 lakhs donated to the corpus of the trusts did not qualify as application of income for charitable purposes. The appeal was partly allowed, upholding the taxability of the interest income and denying the charitable purpose application for the donated amount. en-us Sat, 21 Apr 1984 00:00:00 +0530 Mon, 07 Feb 2011 16:52:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64409 The interest income of Rs. 5,200 was deemed taxable due to the lack of adequate security for the loan received. Additionally, the Rs. 16 lakhs donated to the corpus of the trusts did not qualify as application of income for charitable purposes. The appeal was partly allowed, upholding the taxability of the interest income and denying the charitable purpose application for the donated amount. Case-Laws Income Tax Sat, 21 Apr 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64409