https://www.taxtmi.com/caselaws?id=61086 The Tribunal ruled in favor of the assessee on all issues. It held that the amount collected for charity was not taxable income as it was specifically collected and disbursed for charitable purposes. The Tribunal also characterized the assessee as a trustee for the charity collections, noting the custom in the trade. Regarding the depreciation of a jeep and running expenses, the Tribunal allowed full depreciation on the jeep due to its primary business use, making only a partial disallowance of running expenses. The Tribunal dismissed the reference application, finding no legal questions to refer to the High Court. en-us Tue, 04 Feb 1975 00:00:00 +0530 Mon, 10 Jan 2011 17:37:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61086 The Tribunal ruled in favor of the assessee on all issues. It held that the amount collected for charity was not taxable income as it was specifically collected and disbursed for charitable purposes. The Tribunal also characterized the assessee as a trustee for the charity collections, noting the custom in the trade. Regarding the depreciation of a jeep and running expenses, the Tribunal allowed full depreciation on the jeep due to its primary business use, making only a partial disallowance of running expenses. The Tribunal dismissed the reference application, finding no legal questions to refer to the High Court. Case-Laws Income Tax Tue, 04 Feb 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61086