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1983 (7) TMI 4 - CALCUTTA HIGH COURT
Extract:
.......opinion, the Tribunal erred in holding that the gift of the shares valued at Rs. 30,000 to a charity amounted to application of the income of the trust for the purpose of charity in the year under consideration. The question, therefore, is answered in the affirmative and in favour of the Revenue. There will be no order as to costs. PYNE J.-I agree.