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Income Tax - Highlights / Catch Notes

Home Highlights June 2020 Year 2020 This

Exemption u/s 11/12 - corpus donations - exemption to incomes of ...

Case Laws     Income Tax

June 5, 2020

Exemption u/s 11/12 - corpus donations - exemption to incomes of charitable trust - the investment in land had been made out of general donations, which fact has remained uncontroverted - claim of the assessee of utilization of amount incurred for purchase of land for the purposes of claiming exemption u/s 11/12 allowed.

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  10. Exemption u/s 11 - assessment of trust - The Tribunal observed that, to serve a charitable purpose, it is not necessary that the objects should benefit the whole of...

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