https://www.taxtmi.com/caselaws?id=191768 The note addresses entitlement to exemption under Section 15B(1) for contributions to a memorial fund and clarifies that exemption provisions apply only to sums that are part of the assessable income of the relevant year; exemptions operate by relieving tax on amounts already included for computation. Because the contributions were paid and related to a prior year and were not assessable in the year of assessment, allowing the exemption would create an improper off year credit. Operative effect: contributions not assessable in the relevant year do not qualify for exemption under the provision and thus cannot be claimed. en-us Thu, 11 Jun 1953 00:00:00 +0530 Thu, 20 Apr 2017 12:52:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=191768 The note addresses entitlement to exemption under Section 15B(1) for contributions to a memorial fund and clarifies that exemption provisions apply only to sums that are part of the assessable income of the relevant year; exemptions operate by relieving tax on amounts already included for computation. Because the contributions were paid and related to a prior year and were not assessable in the year of assessment, allowing the exemption would create an improper off year credit. Operative effect: contributions not assessable in the relevant year do not qualify for exemption under the provision and thus cannot be claimed. Case-Laws Income Tax Thu, 11 Jun 1953 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=191768