https://www.taxtmi.com/caselaws?id=38406 The High Court of GAUHATI ruled in favor of the assessee, a Hindu undivided family, in a case involving the interpretation of section 88 of the Income-tax Act, 1961. The court held that the initial donation of Rs. 21,000 made to a charitable trust for its founding was eligible for exemption under section 88, despite the trust not meeting certain conditions initially. The court rejected the department's argument that exemption only applied to donations to existing funds or institutions, emphasizing that relief under section 88 should also extend to initial donations for founding trusts. en-us Thu, 09 Dec 1976 00:00:00 +0530 Tue, 06 Apr 2010 10:43:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38406 The High Court of GAUHATI ruled in favor of the assessee, a Hindu undivided family, in a case involving the interpretation of section 88 of the Income-tax Act, 1961. The court held that the initial donation of Rs. 21,000 made to a charitable trust for its founding was eligible for exemption under section 88, despite the trust not meeting certain conditions initially. The court rejected the department's argument that exemption only applied to donations to existing funds or institutions, emphasizing that relief under section 88 should also extend to initial donations for founding trusts. Case-Laws Income Tax Thu, 09 Dec 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38406