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Section 12A4 Section 1472 Section 112

M/S. MAHASAKTI FOUNDATION,KALAHANDI vs. ACIT, SAMBALPUR

In the result, the appeals filed by the assessee are allowed

ITA 134/CTK/2015[2007-08]Status: DisposedITAT Cuttack06 Jun 2017AY 2007-08

Bench: S/Shri N.S Saini & Pavan Kumar Gadale

For Appellant: Shri P.K.Mishra, ARFor Respondent: Shri Kunal Singh, CIT DR

Section 11Section 12ASection 147Section 194ASection 201(1)Section 40

173, wherein Paragraphs 24 and 25 clearly define the scope of the amendment wherein in paragraph 25(i) , the concluding sentence is as under:- “contributions received with a specific direction that they will form part of the corpus of the trust or distribution will, however, not be regarded as income.” Thus the relevant clause defining income in section