https://www.taxtmi.com/caselaws?id=187134 Grants received by a government-created nodal authority for implementing specified rural development schemes were not taxable as income where the funds had to be applied only for the earmarked public purpose and any unspent balance was carried forward for the same object. The authority had no discretion to use the money as its own, so the receipt was neither a voluntary contribution nor a donation, and its appearance in the receipts and expenditure account did not alter its character. The grant-in-aid was therefore not assessable as income in the relevant year. en-us Wed, 22 Jan 2014 00:00:00 +0530 Wed, 12 Oct 2016 12:47:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=187134 Grants received by a government-created nodal authority for implementing specified rural development schemes were not taxable as income where the funds had to be applied only for the earmarked public purpose and any unspent balance was carried forward for the same object. The authority had no discretion to use the money as its own, so the receipt was neither a voluntary contribution nor a donation, and its appearance in the receipts and expenditure account did not alter its character. The grant-in-aid was therefore not assessable as income in the relevant year. Case-Laws Income Tax Wed, 22 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=187134