Earmarked Funds in Trusts: Section 11(1)(d) Exemption Upheld as Corpus Donations for Specific Purposes.

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....Denial of benefit of section 11(1)(d) - Earmarked funds - To be treated as corpus donation or not - It is a well-settled position in law when a trust received a particular sum, which is earmarked, for a specific purpose, it constitutes nothing but a receipt to be treated as forming part of the corpus - Benefit of exemption allowed - AT....