Exemption u/s 11(1)(d) - misutilization of receipts of earmarked ...

Income Tax

December 21, 2023

Exemption u/s 11(1)(d) - misutilization of receipts of earmarked funds as corpus donation - The fund was donated by founder member of the trust. The source is well explained. There is no deviation in activities of trust as per the stated main object. Expenses were incurred for charitable activities. The delay in project was due to stuck up of construction as per order of Hon’ble Jurisdictional High Court. In our considered view, there is no violation of section 11(1)(d) r.w.s. 11(1). - AT

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Exemption u/s 11(1)(d) - misutilization of receipts of earmarked ...

Income Tax

December 21, 2023

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