Dismissing the appeal of the revenue the Tribunal held that , corpus contributions being capital receipts, cannot be charged to tax though the trust is not registered.( AY. 2005-06)
ITO v. Serum Institute of India Research Foundation. (2018) 169 ITD 271 / 195 TTJ 820 (Pune) (Trib.)
S. 12A : Registration –Trust or institution- Corpus contributions being capital receipts, cannot be charged to tax though the trust is not registered [ S. 2(24)(iia),12AA ]