https://www.taxtmi.com/caselaws?id=783252 ITAT Lucknow held that government grants received by the assessee-trust for setting up Phase 2 of an educational institute, involving specified projects and infrastructure creation, constituted capital receipts and formed part of the corpus, even though not expressly designated as such. These receipts did not fall within the definition of income under s. 2(24) and therefore could not be taxed as surplus over 15% under s. 11(1). The Tribunal ruled that there was no requirement to route such grants through the income and expenditure account or consider them for application-of-income computation. The order of the CIT(A) deleting the addition was upheld and the assessee's appeal allowed. en-us Fri, 28 Nov 2025 00:00:00 +0530 Fri, 12 Dec 2025 08:55:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=783252 ITAT Lucknow held that government grants received by the assessee-trust for setting up Phase 2 of an educational institute, involving specified projects and infrastructure creation, constituted capital receipts and formed part of the corpus, even though not expressly designated as such. These receipts did not fall within the definition of income under s. 2(24) and therefore could not be taxed as surplus over 15% under s. 11(1). The Tribunal ruled that there was no requirement to route such grants through the income and expenditure account or consider them for application-of-income computation. The order of the CIT(A) deleting the addition was upheld and the assessee's appeal allowed. Case-Laws Income Tax Fri, 28 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=783252