Section 10 in The Income Tax Act, 1961
10. Incomes not included in total income
eligible investment fund, the fund management activity carried out through an eligible fund manager acting on behalf of such fund shall not constitute business connection ... fund manager of the investment fund or a director or a trustee or a partner or a member of the fund manager of such fund
eligible investment fund, the fund management activity carried out through an eligible fund manager acting on behalf of such fund shall not constitute business connection ... fund manager of the investment fund or a director or a trustee or a partner or a member of the fund manager of such fund
days Government Treasury Bills.
(x) Investment in any debt fund, mutual fund and any
other fund as per Govt. of India/State Govt.
Guidelines ... funds.
This fund has been created under Regulation 3
warranting funding from both public and private resources as
well as from government grants. The fund
subsidies should henceforth be sent to the Member
Associations towards "corpus funds". There is no dispute that the TV subsidy in
question ... obligation and with a specific direction that it shall be for
corpus fund- as admittedly the present receipt is, is required to be treated
transit
accommodation of their choice by accepting transit corporation, corpus fund and transportation
charges as have been paid by the plaintiffs to the other members ... vacate their respective premises by
accepting cheques for transit compensation, corpus fund and transportation charges.
It is the case of the plaintiff that majority
being amount received by way of
Corpus Fund though the same is not taxable as it is not "Income"
and/or is capital ... corpus fund denotes a permanent fund
kept for the basic expenditures needed for the administration and survival of
an organization. The corpus fund is generally
stated that the
contribution made by them is towards a corpus fund of the assessee
which is to be invested in shares and securities ... exemption on income received as “corpus fund”. Therefore, the
Assessing Officer drew a conclusion that the assessee failed to disclose
fully and truly all material
assessment order. The questionnaire referred to certain sources like corpus, fund, cash and loan from bank etc. for which he was asked to furnish supporting ... deposits were treated as unexplained and they were shown as:
(1) Corpus Fund
(2) Cash
(3) Loan from Bank
(4) Bank withdrawal
(5) Bank interest
Fund Rs.75,000/-
Pune Building Fund Rs.2,00,000/-
Laboratory Fund Rs.1,00,000/-
Library Fund Rs.50,000/-
Deficit Fund ... affiliation. Corpus fund being reserve fund of University for its developmental activities and the UGC clearly spelt out how the said fund should be mobilised