https://www.taxtmi.com/caselaws?id=796826 Reassessment of an educational trust is impermissible where proposed disallowances do not create taxable escaped income. An approved educational institution may accumulate up to 15% of income if the remaining income is applied wholly and exclusively to its objects. The trust's utilisation remained 86.92% even under the Revenue's computation, preserving its exemption entitlement. Since including the disputed amounts would not increase the trust's lawful tax liability, reassessment proceedings could be dropped. Failure to address the utilisation computation and supporting evidence further left no basis for treating income as having escaped assessment. en-us Mon, 03 Aug 2026 00:00:00 +0530 Tue, 11 Aug 2026 08:47:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=796826 Reassessment of an educational trust is impermissible where proposed disallowances do not create taxable escaped income. An approved educational institution may accumulate up to 15% of income if the remaining income is applied wholly and exclusively to its objects. The trust's utilisation remained 86.92% even under the Revenue's computation, preserving its exemption entitlement. Since including the disputed amounts would not increase the trust's lawful tax liability, reassessment proceedings could be dropped. Failure to address the utilisation computation and supporting evidence further left no basis for treating income as having escaped assessment. Case-Laws Income Tax Mon, 03 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=796826