COMMISSIONER OF INCOME TAX Vs. NAGI REDDI CHARITIES

JUDGEMENT

(1.) THE questions referred to us at the instance of the Revenue are :

(2.) THE assessment years are 1977-78, 1978-79 and 1979-80.

(3.) CONTRIBUTIONS made with a specific direction that they shall form part of the corpus of the trust are not to be treated by Section 12 as income of the trust. Such contributions to the corpus do not constitute taxable income. All other contributions are deemed as income derived from property held for the purpose of the trust for the purpose of Section 11 and Section 13.