Meaning of tax terms
Meaning of “Income derived from voluntary contribution”
Case Name : R.B. Shreeram Religious & Charitable Trust Vs. CIT
Citation :[1998] 99 TAXMAN 318/233 ITR 53 (SC)
Court : Supreme Court
Section : 12
Meaning : The phrase ‘income derived from voluntary contribution’ in sub-section (1) of section 12 refers to income in the form of voluntary contributions received by the recipient, religious or charitable trust. It has no reference to the income which may later on be derived from such voluntary contributions as and when such contributions are invested.
