Section 10 - Amendment of section 11 - Finance Act, 2003

10. Amendment of section 11.- In section 11 of the Income-tax Act, in sub-section (3A) , after the proviso, the following proviso shall be inserted, namely :- "Provided further that in case the trust or institution, which has invested or deposited its income in accordance with the provisions of clause (b) of sub-section (2) , is dissolved, the Assessing Officer may allow application of such income for the purposes referred to in clause (d) of sub-section (3) in the year in which such trust or institution was dissolved.".