https://www.taxtmi.com/caselaws?id=765779 The tribunal addressed whether the 15% accumulation under section 11(1)(a) should be computed on gross receipts or net income, reasoning that receipts from concessional sale of artificial limbs manufactured from trust property constitute income of the property held for charitable purposes; consequence: the 15% accumulation is to be calculated on gross receipts as claimed. It also resolved whether loans under ADIP and ADIPSSA count as income for section 11(1): such loans are not income for that purpose, may be treated as application of funds when utilized for charitable activity, and cannot be claimed as application in the year of receipt. en-us Wed, 18 Dec 2024 00:00:00 +0530 Wed, 04 Feb 2026 10:44:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=765779 The tribunal addressed whether the 15% accumulation under section 11(1)(a) should be computed on gross receipts or net income, reasoning that receipts from concessional sale of artificial limbs manufactured from trust property constitute income of the property held for charitable purposes; consequence: the 15% accumulation is to be calculated on gross receipts as claimed. It also resolved whether loans under ADIP and ADIPSSA count as income for section 11(1): such loans are not income for that purpose, may be treated as application of funds when utilized for charitable activity, and cannot be claimed as application in the year of receipt. Case-Laws Income Tax Wed, 18 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=765779