https://www.taxtmi.com/caselaws?id=276985 Money received subject to an enforceable obligation to apply it to a specific charitable trust was treated as diverted before it became the recipient's income. The High Court applied the principle that an amount earmarked from the outset for a trust, and held in a fiduciary capacity for that purpose, does not constitute taxable professional income in the hands of the individual recipient. On that basis, the disputed receipt was held to fall outside the assessee's taxable income and to have been received on behalf of the trust. en-us Mon, 03 Aug 1953 00:00:00 +0530 Wed, 21 Nov 2018 17:13:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276985 Money received subject to an enforceable obligation to apply it to a specific charitable trust was treated as diverted before it became the recipient's income. The High Court applied the principle that an amount earmarked from the outset for a trust, and held in a fiduciary capacity for that purpose, does not constitute taxable professional income in the hands of the individual recipient. On that basis, the disputed receipt was held to fall outside the assessee's taxable income and to have been received on behalf of the trust. Case-Laws Income Tax Mon, 03 Aug 1953 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276985