https://www.taxtmi.com/caselaws?id=36419 The High Court of Kerala ruled in favor of two public charitable trusts regarding the treatment of donations under the Income Tax Act, 1961. The Court held that donations given with the direction to form the corpus of the recipient trust should not be treated as income of the assessee-trust under section 11. The Court emphasized that such contributions, when accepted as corpus and not income, do not fall within the scope of section 12(2) and cited supporting precedents. Consequently, the Court upheld the Tribunal's decision, determining that the donations in question do not constitute income for the assessees. en-us Tue, 03 Jun 1980 00:00:00 +0530 Mon, 22 Mar 2010 12:07:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36419 The High Court of Kerala ruled in favor of two public charitable trusts regarding the treatment of donations under the Income Tax Act, 1961. The Court held that donations given with the direction to form the corpus of the recipient trust should not be treated as income of the assessee-trust under section 11. The Court emphasized that such contributions, when accepted as corpus and not income, do not fall within the scope of section 12(2) and cited supporting precedents. Consequently, the Court upheld the Tribunal's decision, determining that the donations in question do not constitute income for the assessees. Case-Laws Income Tax Tue, 03 Jun 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36419