https://www.taxtmi.com/caselaws?id=365773 The tribunal partly allowed the appeal, ruling that the amount received towards the corpus fund from Bank of India was a capital receipt and not taxable income. Expenses claimed were disallowed under Section 57(iii) for not being directly related to income. The tribunal upheld the direction for rectification of excess interest income. No directions were given for consequential effects in case of restoration of registration under Section 12A due to the absence of a specific ground of appeal. en-us Wed, 11 Jul 2018 00:00:00 +0530 Thu, 23 Aug 2018 09:36:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=365773 The tribunal partly allowed the appeal, ruling that the amount received towards the corpus fund from Bank of India was a capital receipt and not taxable income. Expenses claimed were disallowed under Section 57(iii) for not being directly related to income. The tribunal upheld the direction for rectification of excess interest income. No directions were given for consequential effects in case of restoration of registration under Section 12A due to the absence of a specific ground of appeal. Case-Laws Income Tax Wed, 11 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=365773