https://www.taxtmi.com/caselaws?id=384267 The High Court dismissed the appeal regarding the assessment of income under Section 11 of the Income Tax Act for a trust. The Court upheld the decision of the ITAT, emphasizing that voluntary contributions for a specific purpose are capital receipts and not taxable income under Section 2(24)(iia). The Court found no substantial question of law, as the issue was covered by previous judgments, and confirmed the ITAT's order for the assessment year 2010-11 without imposing costs. en-us Fri, 19 Jul 2019 00:00:00 +0530 Fri, 09 Aug 2019 07:21:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=384267 The High Court dismissed the appeal regarding the assessment of income under Section 11 of the Income Tax Act for a trust. The Court upheld the decision of the ITAT, emphasizing that voluntary contributions for a specific purpose are capital receipts and not taxable income under Section 2(24)(iia). The Court found no substantial question of law, as the issue was covered by previous judgments, and confirmed the ITAT's order for the assessment year 2010-11 without imposing costs. Case-Laws Income Tax Fri, 19 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384267