https://www.taxtmi.com/caselaws?id=381062 The appeals filed by the assessee trust were allowed for statistical purposes, with the matter remanded to the Assessing Officer for proper examination of expenditure claims and computation of taxable income based on net receipts. The Tribunal directed that only the net income should be taxed, not gross receipts, and relief should be granted to the assessee trust if the net receipts do not exceed the maximum amount not chargeable to tax. en-us Wed, 29 May 2019 00:00:00 +0530 Mon, 03 Jun 2019 09:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381062 The appeals filed by the assessee trust were allowed for statistical purposes, with the matter remanded to the Assessing Officer for proper examination of expenditure claims and computation of taxable income based on net receipts. The Tribunal directed that only the net income should be taxed, not gross receipts, and relief should be granted to the assessee trust if the net receipts do not exceed the maximum amount not chargeable to tax. Case-Laws Income Tax Wed, 29 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381062