https://www.taxtmi.com/caselaws?id=77020 The court upheld the treatment of donation and TDS debited to the P&L Account as capital receipts exempt from tax based on the principle of mutuality. It also affirmed the direction to allow carry forward loss/depreciation for certain assessment years. The judges emphasized the distinction between capital and income receipts, highlighting that any surplus within the society from member contributions is not considered profit. The decision dismissed the appeals, finding no substantive legal issues to challenge the orders of the lower courts. en-us Wed, 26 May 2010 00:00:00 +0530 Tue, 06 Sep 2011 17:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=77020 The court upheld the treatment of donation and TDS debited to the P&L Account as capital receipts exempt from tax based on the principle of mutuality. It also affirmed the direction to allow carry forward loss/depreciation for certain assessment years. The judges emphasized the distinction between capital and income receipts, highlighting that any surplus within the society from member contributions is not considered profit. The decision dismissed the appeals, finding no substantive legal issues to challenge the orders of the lower courts. Case-Laws Income Tax Wed, 26 May 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=77020