https://www.taxtmi.com/caselaws?id=20695 The court ruled in favor of the assessee, holding that the trust was entitled to exemption for dividend income under section 13(4) of the Income-tax Act and deductions claimed for charitable purposes. The court emphasized that the proviso to section 13(1)(c) exempted income related to any period before June 1, 1970, from forfeiture, preserving the trust's tax benefits. The court rejected the Revenue's contentions, affirming the Tribunal's decisions on the application of relevant sections and treatment of donated and bonus shares. No costs were awarded. en-us Wed, 03 Mar 1993 00:00:00 +0530 Mon, 16 Nov 2009 16:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20695 The court ruled in favor of the assessee, holding that the trust was entitled to exemption for dividend income under section 13(4) of the Income-tax Act and deductions claimed for charitable purposes. The court emphasized that the proviso to section 13(1)(c) exempted income related to any period before June 1, 1970, from forfeiture, preserving the trust's tax benefits. The court rejected the Revenue's contentions, affirming the Tribunal's decisions on the application of relevant sections and treatment of donated and bonus shares. No costs were awarded. Case-Laws Income Tax Wed, 03 Mar 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20695