https://www.taxtmi.com/caselaws?id=27231 The court ruled in favor of the Revenue, stating that loan repayments received by the trust should be considered as income under section 11 of the Income Tax Act. The court emphasized the importance of applying trust funds for charitable purposes to avail tax benefits, holding that treating repayments as non-income could undermine the trust's charitable obligations. No costs were awarded in this case. en-us Fri, 10 Aug 1984 00:00:00 +0530 Thu, 11 Feb 2010 16:09:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27231 The court ruled in favor of the Revenue, stating that loan repayments received by the trust should be considered as income under section 11 of the Income Tax Act. The court emphasized the importance of applying trust funds for charitable purposes to avail tax benefits, holding that treating repayments as non-income could undermine the trust's charitable obligations. No costs were awarded in this case. Case-Laws Income Tax Fri, 10 Aug 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27231