https://www.taxtmi.com/caselaws?id=35614 The court remanded the matter to the Income Tax Officer to compute the income in accordance with the principles laid down, considering the exemptions under section 10(22) and the proper interpretation of "income" for the purposes of section 11(1)(a). The court concluded that the income from properties held under trust should be computed in a normal commercial manner without reference to specific provisions. The inclusion of income from two schools run by the assessee-institution in the accumulated income under "Other sources" was found to be erroneous, as the income from educational institutions should be wholly exempt under section 10(22). en-us Thu, 09 Aug 1979 00:00:00 +0530 Mon, 15 Mar 2010 15:52:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=35614 The court remanded the matter to the Income Tax Officer to compute the income in accordance with the principles laid down, considering the exemptions under section 10(22) and the proper interpretation of "income" for the purposes of section 11(1)(a). The court concluded that the income from properties held under trust should be computed in a normal commercial manner without reference to specific provisions. The inclusion of income from two schools run by the assessee-institution in the accumulated income under "Other sources" was found to be erroneous, as the income from educational institutions should be wholly exempt under section 10(22). Case-Laws Income Tax Thu, 09 Aug 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=35614