https://www.taxtmi.com/caselaws?id=186687 The Tribunal ruled in favor of the Public Charitable Trust, holding that donations with specific directions to form part of the trust's corpus are not taxable as income. Additionally, expenses incurred for the trust's objectives were allowed as deductions, as they were necessary for the running and maintenance of the trust. The Tribunal upheld the CIT(A)'s decision, dismissing both the appeal and the cross-objection filed by the Revenue and the assessee, respectively. en-us Thu, 14 Jul 1994 00:00:00 +0530 Tue, 27 Sep 2016 17:02:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=186687 The Tribunal ruled in favor of the Public Charitable Trust, holding that donations with specific directions to form part of the trust's corpus are not taxable as income. Additionally, expenses incurred for the trust's objectives were allowed as deductions, as they were necessary for the running and maintenance of the trust. The Tribunal upheld the CIT(A)'s decision, dismissing both the appeal and the cross-objection filed by the Revenue and the assessee, respectively. Case-Laws Income Tax Thu, 14 Jul 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=186687