https://www.taxtmi.com/caselaws?id=36933 The court upheld the Tribunal's decision regarding the application of income for charitable purposes, ruling in favor of the revenue. It found that the amount in question was not applied for charitable purposes as required by the Income-tax Act. The court also upheld the cancellation of the penalty levied for non-payment of tax, considering the default as technical and accepting the assessee's plea of a bona fide belief that the income was not taxable. The court ruled against the revenue on the penalty issue. No costs were awarded. en-us Tue, 24 Jul 1979 00:00:00 +0530 Thu, 25 Mar 2010 15:10:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36933 The court upheld the Tribunal's decision regarding the application of income for charitable purposes, ruling in favor of the revenue. It found that the amount in question was not applied for charitable purposes as required by the Income-tax Act. The court also upheld the cancellation of the penalty levied for non-payment of tax, considering the default as technical and accepting the assessee's plea of a bona fide belief that the income was not taxable. The court ruled against the revenue on the penalty issue. No costs were awarded. Case-Laws Income Tax Tue, 24 Jul 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36933