https://www.taxtmi.com/highlights?id=58902 Exemption u/s 11 - Corpus Donation - the corpus fund donated to the assessee cannot be included in the income and expenditure account but has been rightly shown by the assessee in its liability side of the Balance Sheet since the nature of the receipt is capital in nature. Therefore, the assessee succeeds and we allow the claim of the assessee and overturn the decision of the authorities below. - AT en-us Fri, 23 Jul 2021 23:20:55 +0530 Fri, 23 Jul 2021 23:20:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=58902 Exemption u/s 11 - Corpus Donation - the corpus fund donated to the assessee cannot be included in the income and expenditure account but has been rightly shown by the assessee in its liability side of the Balance Sheet since the nature of the receipt is capital in nature. Therefore, the assessee succeeds and we allow the claim of the assessee and overturn the decision of the authorities below. - AT Highlights Income Tax Fri, 23 Jul 2021 23:20:55 +0530 https://www.taxtmi.com/highlights?id=58902