2000 (11) TMI 4

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....anda, Adv., Mr. S.K. Dwivedi, Adv. and Ms. Sushma Suri, Adv. For the Respondent (s) Mr. S. Muralidhar, Adv. ORDER BY THE COURT :--- The questions that were referred to the High Court for consideration, at the instance of the Revenue, read thus: "(1) Whether, on the facts and in the circumstances of the case and on an interpretation of the relevant provisions of the IT Act, the....

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....1961, the amount for the grant of exemption of twenty-five per cent should be the income of the trust or it should be its total income as determined for the purposes of assessment to income-tax. This question has to be answered in the light of these facts : The assessee-trust received donations in the aggregate sum of Rs. 2,57,376. It applied thereout for its charitable purposes the aggregate sum ....