https://www.taxtmi.com/caselaws?id=240585 Estate duty recovered from compensation for compulsory acquisition was treated as subject to a prior statutory charge under the Estate Duty Act, so the sum appropriated before the trust received any benefit was not regarded as income or property applied for the benefit of the settlor or a specified person under the Income-tax Act. On that basis, the charitable trust remained entitled to exemption under Section 11. The text also notes that revisional power under Section 263 could not be used merely because the Commissioner preferred a different view where the assessment had already been made after due consideration of the facts and law. en-us Fri, 27 Sep 2013 00:00:00 +0530 Mon, 03 Feb 2014 13:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=240585 Estate duty recovered from compensation for compulsory acquisition was treated as subject to a prior statutory charge under the Estate Duty Act, so the sum appropriated before the trust received any benefit was not regarded as income or property applied for the benefit of the settlor or a specified person under the Income-tax Act. On that basis, the charitable trust remained entitled to exemption under Section 11. The text also notes that revisional power under Section 263 could not be used merely because the Commissioner preferred a different view where the assessment had already been made after due consideration of the facts and law. Case-Laws Income Tax Fri, 27 Sep 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=240585