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of <h1>ITAT Rules on Taxability: Swach Bharat Fund as Income, Disaster Relief Fund Held in Fiduciary Capacity.</h1> The article analyzes a decision by the Income Tax Appellate Tribunal (ITAT) regarding the taxability of certain funds received by an entity. The case centers on whether funds related to the Swach Bharat initiative and disaster relief should be included in the income and expenditure account or directly transferred to the balance sheet. The Tribunal ruled that the Swach Bharat fund was correctly routed through the income and expenditure account, while the disaster relief fund was held in a fiduciary capacity and not part of the entity's income. This decision emphasizes the importance of understanding the purpose of funds in tax assessments.
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