1991 (2) TMI 82

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....t in this petition for the assessment year 1979-80 : "Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that the amount of Rs. 20 lakhs, received from the Cotton Textiles Export Promotion Council forms part of the corpus of the trust and hence is not taxable ?" The respondent had received Rs. 20 lakhs from the Cotton Textile Export Promotion Counci....

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....roposed accepts the facts and circumstances found by the Tribunal and the facts found are that the assessee had received Rs. 20 lakhs with a specific direction that the same should be treated as corpus of the assessee-company. It is not sought to be agitated by the Department that the order passed is perverse. No question is sought to be referred to the effect that the Tribunal has ignored the rel....