https://www.taxtmi.com/caselaws?id=58432 The Tribunal held that procedural provisions like s. 144B have retrospective operation on pending matters, allowing the assessment to proceed for the asst. yr. 1974-75. Regarding the inclusion of Rs. 1,30,000 in the total income under s. 12, the Tribunal ruled in favor of the assessee, finding that the contributions indeed formed part of the trust corpus based on the exception in s. 12 for contributions made with a specific direction. The Tribunal dismissed both the Department's appeal and the assessee's cross objection, upholding the assessee's position on the treatment of contributions received by the trust. en-us Tue, 23 Oct 1979 00:00:00 +0530 Sun, 06 Feb 2011 03:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58432 The Tribunal held that procedural provisions like s. 144B have retrospective operation on pending matters, allowing the assessment to proceed for the asst. yr. 1974-75. Regarding the inclusion of Rs. 1,30,000 in the total income under s. 12, the Tribunal ruled in favor of the assessee, finding that the contributions indeed formed part of the trust corpus based on the exception in s. 12 for contributions made with a specific direction. The Tribunal dismissed both the Department's appeal and the assessee's cross objection, upholding the assessee's position on the treatment of contributions received by the trust. Case-Laws Income Tax Tue, 23 Oct 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58432