https://www.taxtmi.com/caselaws?id=37808 The Tribunal upheld the exclusion of 'laga receipts' from the assessee's taxable income, following a decision of the Allahabad High Court. The Tribunal found that the receipts were collected under a custom obligating the assessee to spend the amount on charity alone, not constituting income. Referring to a Supreme Court case, the High Court concluded that the nature of the 'gam laga' impost created an obligation in the nature of trust at the time of payment, diverting the receipts for charity before becoming income. The High Court rejected the Commissioner's reference in favor of the assessee, with costs to be paid by the Commissioner. en-us Thu, 21 Sep 1978 00:00:00 +0530 Thu, 01 Apr 2010 12:09:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37808 The Tribunal upheld the exclusion of 'laga receipts' from the assessee's taxable income, following a decision of the Allahabad High Court. The Tribunal found that the receipts were collected under a custom obligating the assessee to spend the amount on charity alone, not constituting income. Referring to a Supreme Court case, the High Court concluded that the nature of the 'gam laga' impost created an obligation in the nature of trust at the time of payment, diverting the receipts for charity before becoming income. The High Court rejected the Commissioner's reference in favor of the assessee, with costs to be paid by the Commissioner. Case-Laws Income Tax Thu, 21 Sep 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37808