https://www.taxtmi.com/caselaws?id=35749 The High Court held that the amounts collected by the firm for charitable purposes were not deemed as income liable to tax. The Court emphasized the broad definition of charitable purposes under the Income Tax Act and noted that the firm's donations did not involve profit-seeking activities. It was highlighted that even customary payments, if directed towards general public utility, could be considered charitable. The Court found that the firm maintained a separate charity account and the collected amounts were not part of its trading receipts, ultimately ruling in favor of the assessee and overturning the decisions of lower authorities. en-us Thu, 05 Nov 1981 00:00:00 +0530 Tue, 16 Mar 2010 14:02:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=35749 The High Court held that the amounts collected by the firm for charitable purposes were not deemed as income liable to tax. The Court emphasized the broad definition of charitable purposes under the Income Tax Act and noted that the firm's donations did not involve profit-seeking activities. It was highlighted that even customary payments, if directed towards general public utility, could be considered charitable. The Court found that the firm maintained a separate charity account and the collected amounts were not part of its trading receipts, ultimately ruling in favor of the assessee and overturning the decisions of lower authorities. Case-Laws Income Tax Thu, 05 Nov 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=35749