2015 (4) TMI 1066

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..... the succeeding years 2009-10 onwards the revenue has consistently brought to tax similar amounts. In these circumstances we leave the question of law open to be urged later in an appropriate case. As far as the other issue with respect to claim for depreciation allowed in favour of the assessee is concerned, the Court noticed that the question of law sought to be urged stands covered in the asses .....

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..... receiving the benefit of exemption under the provisions of Income Tax Act 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 there is no concept of capital or revenue receipt for a trust which has t .....

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