https://www.taxtmi.com/caselaws?id=55215 Corpus donations received by a public charitable trust, when made with a specific direction to form part of the corpus, are excluded from income under section 2(24). A violation of section 13(1)(c) read with section 13(2)(h) may affect eligibility for exemption under section 11(1) for the relevant year, but it does not alter the non-income character of corpus receipts. Section 11(5) regulates the permitted mode of investment for accumulated income and does not by itself invalidate a trust deed clause allowing investment with persons, firms, companies or banks. Only actual income can be assessed, so a notional addition for higher interest not actually earned is not sustainable. en-us Thu, 11 Oct 1990 00:00:00 +0530 Wed, 24 Nov 2010 15:49:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55215 Corpus donations received by a public charitable trust, when made with a specific direction to form part of the corpus, are excluded from income under section 2(24). A violation of section 13(1)(c) read with section 13(2)(h) may affect eligibility for exemption under section 11(1) for the relevant year, but it does not alter the non-income character of corpus receipts. Section 11(5) regulates the permitted mode of investment for accumulated income and does not by itself invalidate a trust deed clause allowing investment with persons, firms, companies or banks. Only actual income can be assessed, so a notional addition for higher interest not actually earned is not sustainable. Case-Laws Income Tax Thu, 11 Oct 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55215