https://www.taxtmi.com/caselaws?id=177070 The Tribunal ruled in favor of the assessee, a company formed for providing medical aid, by holding that donations received towards the corpus fund were capital receipts and not taxable income. The Assessing Officer's reopening of assessments under section 147 of the Income-tax Act, 1961, was deemed invalid due to incorrect jurisdiction. The Tribunal emphasized that the assessee, not claiming benefits under section 11, was not required to register under section 12A. Consequently, the appeals and cross objection by the assessee were allowed, and the Revenue's appeal was dismissed as infructuous. en-us Tue, 08 Jul 2008 00:00:00 +0530 Thu, 30 Nov 2023 17:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177070 The Tribunal ruled in favor of the assessee, a company formed for providing medical aid, by holding that donations received towards the corpus fund were capital receipts and not taxable income. The Assessing Officer's reopening of assessments under section 147 of the Income-tax Act, 1961, was deemed invalid due to incorrect jurisdiction. The Tribunal emphasized that the assessee, not claiming benefits under section 11, was not required to register under section 12A. Consequently, the appeals and cross objection by the assessee were allowed, and the Revenue's appeal was dismissed as infructuous. Case-Laws Income Tax Tue, 08 Jul 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177070