https://www.taxtmi.com/caselaws?id=313756 The SC determined that the levy of a 2% contribution on the gross income of public trusts under Section 58 of the Bombay Public Trusts Act, 1950, originally a fee, transitioned into a tax post-March 31, 1970, due to surplus accumulation, rendering it unlawful. Additionally, the respondent was held liable for contributions on three donations received in 1954, 1955, and 1956, as per the retrospective application of the Amending Act of 1962. The Division Bench's quashing of the levy orders was overturned, with no costs ordered in the appeals. en-us Mon, 10 Feb 1975 00:00:00 +0530 Wed, 01 May 2024 15:37:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=313756 The SC determined that the levy of a 2% contribution on the gross income of public trusts under Section 58 of the Bombay Public Trusts Act, 1950, originally a fee, transitioned into a tax post-March 31, 1970, due to surplus accumulation, rendering it unlawful. Additionally, the respondent was held liable for contributions on three donations received in 1954, 1955, and 1956, as per the retrospective application of the Amending Act of 1962. The Division Bench's quashing of the levy orders was overturned, with no costs ordered in the appeals. Case-Laws Companies Law Mon, 10 Feb 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=313756