https://www.taxtmi.com/caselaws?id=69993 The Tribunal allowed the appeal, setting aside the Commissioner of Income-tax's order and restoring the Income-tax Officer's decision. It held that the corpus donation by the donor trust to the donee trust constituted proper utilization of accumulated income for charitable purposes, in line with relevant court precedents. The Tribunal determined that the entire amount donated should not be deemed as income of the donor trust for the assessment year, and that the trust did not breach undertakings regarding income accumulation. Additionally, it clarified that a specific amount should not be considered as deemed income under the Income-tax Act. en-us Mon, 05 Feb 1990 00:00:00 +0530 Wed, 13 Apr 2011 12:41:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69993 The Tribunal allowed the appeal, setting aside the Commissioner of Income-tax's order and restoring the Income-tax Officer's decision. It held that the corpus donation by the donor trust to the donee trust constituted proper utilization of accumulated income for charitable purposes, in line with relevant court precedents. The Tribunal determined that the entire amount donated should not be deemed as income of the donor trust for the assessment year, and that the trust did not breach undertakings regarding income accumulation. Additionally, it clarified that a specific amount should not be considered as deemed income under the Income-tax Act. Case-Laws Income Tax Mon, 05 Feb 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69993