https://www.taxtmi.com/caselaws?id=172747 The Tribunal dismissed the Revenue's appeals concerning donations made to the Trust for the assessment years 1973-74 and 1974-75. The donations were found to be intended for the corpus of the Trust based on evidence including an affidavit from the counsel retracting an earlier statement. Letters from donors and a resolution by trustees supported this intent. The Tribunal upheld the AAC's decision that the donations were specifically directed to form part of the corpus under section 12 of the IT Act, 1961, leading to the exclusion of donations from the Trust's income. en-us Wed, 29 Apr 1981 00:00:00 +0530 Sat, 28 Mar 2020 12:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=172747 The Tribunal dismissed the Revenue's appeals concerning donations made to the Trust for the assessment years 1973-74 and 1974-75. The donations were found to be intended for the corpus of the Trust based on evidence including an affidavit from the counsel retracting an earlier statement. Letters from donors and a resolution by trustees supported this intent. The Tribunal upheld the AAC's decision that the donations were specifically directed to form part of the corpus under section 12 of the IT Act, 1961, leading to the exclusion of donations from the Trust's income. Case-Laws Income Tax Wed, 29 Apr 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=172747