High Court Criticizes Tribunal for Lack of Reasoning on Classifying 'Pharmacy' Income Under Charitable Trust, Citing Section 11(4A).

Assessment of trust - 'Pharmacy' income as income of charitable trust - it is evident that the Tribunal has not recorded any reasons whether or not the assessee has complied with the twin conditions mentioned in sub-section 4A of Section 11. The order passed by the Tribunal is cryptic and suffers from the vice of non-application of mind. Therefore, the finding of the Tribunal insofar as it pertains to the first substantial question of law cannot be sustained. - HC .....

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