https://www.taxtmi.com/caselaws?id=66068 The appeal by a charitable institution against the assessment order for the year 1986-87 resulted in a determination that no taxable income was earned by the institution. The institution's compliance with relevant provisions of the Income-tax Act, including depositing income in a scheduled bank account, and the failure to spend 75% of its income for charitable purposes as required by law, led to the conclusion that the maximum marginal rate was inapplicable. The taxable income was ultimately determined at Rs. 6,055, below the maximum non-taxable income, resulting in no tax being levied on the institution. en-us Fri, 30 Oct 1992 00:00:00 +0530 Mon, 21 Feb 2011 12:37:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66068 The appeal by a charitable institution against the assessment order for the year 1986-87 resulted in a determination that no taxable income was earned by the institution. The institution's compliance with relevant provisions of the Income-tax Act, including depositing income in a scheduled bank account, and the failure to spend 75% of its income for charitable purposes as required by law, led to the conclusion that the maximum marginal rate was inapplicable. The taxable income was ultimately determined at Rs. 6,055, below the maximum non-taxable income, resulting in no tax being levied on the institution. Case-Laws Income Tax Fri, 30 Oct 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66068