https://www.taxtmi.com/caselaws?id=25046 The court ruled in favor of the assessee, holding that donations of a capital nature, even if voluntary, do not constitute income under the Income-tax Act, 1961. The donations received by the assessee-trust were not considered as income derived from property for taxation purposes as they were not applied to charitable purposes. The court emphasized that such contributions cannot be deemed as income under sub-section (2) of section 12. The judgment referenced precedents from various High Courts and rejected the Revenue's argument, ultimately deciding against the Revenue. en-us Thu, 26 Mar 1987 00:00:00 +0530 Mon, 25 Jan 2010 10:49:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25046 The court ruled in favor of the assessee, holding that donations of a capital nature, even if voluntary, do not constitute income under the Income-tax Act, 1961. The donations received by the assessee-trust were not considered as income derived from property for taxation purposes as they were not applied to charitable purposes. The court emphasized that such contributions cannot be deemed as income under sub-section (2) of section 12. The judgment referenced precedents from various High Courts and rejected the Revenue's argument, ultimately deciding against the Revenue. Case-Laws Income Tax Thu, 26 Mar 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25046