https://www.taxtmi.com/caselaws?id=22678 The court ruled in favor of the assessee-trust on both issues referred by the Income-tax Appellate Tribunal. The donations received for the corpus of the trust were held not to be income, following precedent. Additionally, the repayment of loan scholarship amounts by scholars to the trust was not considered as income, rejecting the Revenue's argument based on exempted income. The court found none of the Revenue's contentions meritorious, deciding in favor of the assessee on both matters. en-us Fri, 22 Feb 1991 00:00:00 +0530 Sat, 12 Dec 2009 12:45:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22678 The court ruled in favor of the assessee-trust on both issues referred by the Income-tax Appellate Tribunal. The donations received for the corpus of the trust were held not to be income, following precedent. Additionally, the repayment of loan scholarship amounts by scholars to the trust was not considered as income, rejecting the Revenue's argument based on exempted income. The court found none of the Revenue's contentions meritorious, deciding in favor of the assessee on both matters. Case-Laws Income Tax Fri, 22 Feb 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22678