TMI Blog1991 (2) TMI 82X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 Council. This amount was not taxed by the Income-tax Officer. The Commission ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he 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 relevant material or has arrived at a finding which could not have been ar ..... X X X X Extracts X X X X X X X X Extracts X X X X
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