https://www.taxtmi.com/caselaws?id=14190 The High Court affirmed the Tribunal's decision, ruling in favor of Sir Sobha Singh Public Charitable Trust. The Court held that the trust was eligible for tax exemption under section 11 of the Income-tax Act as the shares received were considered donations, not investments. The Court rejected the Revenue's argument that the trust did not qualify for exemption under section 13(2)(h), emphasizing that the term "funds" referred to money or cash capable of being invested, which did not apply to the donated shares. en-us Fri, 16 Feb 2001 00:00:00 +0530 Tue, 14 Jul 2009 13:03:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14190 The High Court affirmed the Tribunal's decision, ruling in favor of Sir Sobha Singh Public Charitable Trust. The Court held that the trust was eligible for tax exemption under section 11 of the Income-tax Act as the shares received were considered donations, not investments. The Court rejected the Revenue's argument that the trust did not qualify for exemption under section 13(2)(h), emphasizing that the term "funds" referred to money or cash capable of being invested, which did not apply to the donated shares. Case-Laws Income Tax Fri, 16 Feb 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14190