https://www.taxtmi.com/caselaws?id=263228 Where a bishop or metropolitan holds bank deposits under a binding oath of affirmation and church constitution, the monies are treated as belonging to the church in a fiduciary capacity rather than as the individual's personal assets. The Tribunal reasoned that the undertaking created an overriding title in favour of the religious institution, so the credits did not accrue to the assessee as taxable income. On that basis, deposits standing in the assessee's name could not be assessed as his income under section 69, and the addition was deleted. en-us Fri, 06 Mar 2015 00:00:00 +0530 Sat, 29 Aug 2015 05:57:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=263228 Where a bishop or metropolitan holds bank deposits under a binding oath of affirmation and church constitution, the monies are treated as belonging to the church in a fiduciary capacity rather than as the individual's personal assets. The Tribunal reasoned that the undertaking created an overriding title in favour of the religious institution, so the credits did not accrue to the assessee as taxable income. On that basis, deposits standing in the assessee's name could not be assessed as his income under section 69, and the addition was deleted. Case-Laws Income Tax Fri, 06 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=263228