2017 (9) TMI 1232

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....ikumar (SR.) JUDGMENT Antony Dominic,J. In these appeals filed by the Revenue concerning the assessment years 2007-2008, 2008-2009, 2009-2010 and 2012-2013, the common questions of law framed for the consideration of this Court are the following: 1. Whether the ITAT has erred on facts and law in treating the interest on corpus funds received by the assessee as corpus donations u/s 11(1)(d) of ....

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....ring the assessment years in question, it was found that on the voluntary contributions that were received by the assessee, interest was earned and the income earned on the contributions were added by the assessee to its corpus, acting upon the instructions in that behalf issued by the donors themselves. Rejecting the claim of the assessee for exemption under Section 11 (1)(d) of the Act, the inte....

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....ome, insofar as these cases are concerned, is the respondent assessee. One of the income that is enumerated in clause (d) of sub-Section (1) of the Section is the income in the form of voluntary contributions made with a specific direction that they shall form part of the corpus of the trust or institution. The fact that the donors had instructed that the interest earned shall be added to the corp....