https://www.taxtmi.com/caselaws?id=201486 The case involved the taxability of amounts received from customers through bills and credited to the Dharmada Account during the assessment year 1987-88. The company argued that these amounts, earmarked for charitable purposes, should not be taxed as income. The Apex Court, referencing Commissioner of Incometax vs. Bijli Cotton Mills, ruled in favor of the company, stating that Dharmada amounts designated for charity are not taxable. The Court emphasized that such payments are distinct from the price of goods and must be used exclusively for charitable purposes. The matter was referred for further review to ensure alignment with the Apex Court's decision. en-us Wed, 06 Oct 2010 00:00:00 +0530 Tue, 11 Jan 2011 17:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=201486 The case involved the taxability of amounts received from customers through bills and credited to the Dharmada Account during the assessment year 1987-88. The company argued that these amounts, earmarked for charitable purposes, should not be taxed as income. The Apex Court, referencing Commissioner of Incometax vs. Bijli Cotton Mills, ruled in favor of the company, stating that Dharmada amounts designated for charity are not taxable. The Court emphasized that such payments are distinct from the price of goods and must be used exclusively for charitable purposes. The matter was referred for further review to ensure alignment with the Apex Court's decision. Case-Laws Income Tax Wed, 06 Oct 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=201486