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DIRECTOR OF INCOME (EXEMPTION) Versus MIS J.D. TYTLER SCHOOL SOCIETY

2015 (4) TMI 1066 - DELHI HIGH COURT

Concept of capital or revenue receipt for a trust - amount received as development fund by the assessee and directly taken to the balance as liability - Held that:- We are informed that in the succeeding years 2009-10 onwards the revenue has consiste .....

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oncerned, the Court noticed that the question of law sought to be urged stands covered in the assessee’s favour in Director of Income Tax V. Indraprasth Cancer Society [2014 (11) TMI 733 - DELHI HIGH COURT] - ITA 424/2014 - Dated:- 8-4-2015 - MR. JUS .....

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Advs. O R D E R 1. The questions sought to be urged by the revenue is with regard to the treatment of the sum of ₹66,25,049/- which was deleted pursuant to the concurrent orders of the CIT(Appeals) and the ITAT. It is argued that the amount re .....

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was to receive donation to its corpus and thereafter apply it towards expenditure. At the outset this Court noticed that there is neutrality as to the effect of the amount in question for the AY 2008- 09. 2. It is argued on behalf of the revenue that .....

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