https://www.taxtmi.com/caselaws?id=797540 Corpus donations received with a specific direction to form part of a charitable trust's corpus are excluded from income under the statutory scheme for charitable trusts. While voluntary contributions generally constitute income for exemption purposes, specifically directed corpus contributions are capital receipts exempt from tax. Such donations should not be included when calculating income to determine whether the audit threshold requiring furnishing of Form No. 10B is met. Where excluding corpus donations leaves income below that threshold, no audit report is required and exemption remains available for the corpus contributions. en-us Mon, 03 Aug 2026 00:00:00 +0530 Mon, 24 Aug 2026 08:33:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=797540 Corpus donations received with a specific direction to form part of a charitable trust's corpus are excluded from income under the statutory scheme for charitable trusts. While voluntary contributions generally constitute income for exemption purposes, specifically directed corpus contributions are capital receipts exempt from tax. Such donations should not be included when calculating income to determine whether the audit threshold requiring furnishing of Form No. 10B is met. Where excluding corpus donations leaves income below that threshold, no audit report is required and exemption remains available for the corpus contributions. Case-Laws Income Tax Mon, 03 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=797540