https://www.taxtmi.com/caselaws?id=9182 The High Court of Karnataka ruled that a donation of Rs. 25,000 made by a charitable trust on the first day of the accounting year towards establishing a college of engineering qualified for exemption under section 11(1)(a) of the Income-tax Act, 1961. The court held that the donation, even without income received, should be excluded from the total income if made from profits earned during the year. The court emphasized that the provision aimed to provide benefits if the trust earned profits in the relevant previous year, leading to the exclusion of the donation from total income. en-us Wed, 08 Aug 1973 00:00:00 +0530 Sat, 20 Jun 2009 11:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9182 The High Court of Karnataka ruled that a donation of Rs. 25,000 made by a charitable trust on the first day of the accounting year towards establishing a college of engineering qualified for exemption under section 11(1)(a) of the Income-tax Act, 1961. The court held that the donation, even without income received, should be excluded from the total income if made from profits earned during the year. The court emphasized that the provision aimed to provide benefits if the trust earned profits in the relevant previous year, leading to the exclusion of the donation from total income. Case-Laws Income Tax Wed, 08 Aug 1973 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9182