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2016 (11) TMI 1377 - SCH - Income TaxViolation u/s.11(5) and 13(1)(d) - whether the exemption is to be withdrawn for the entire income or the portion of the income? - Held that:- No legal and valid ground for interference. The Special Leave Petition(s) are dismissed. HC order [ 2014 (6) TMI 980 - KARNATAKA HIGH COURT] confirmed. Entire income of the assessee cannot be assessed for the tax, for violating under Section 11(5) read with Sec.31(1)(d) of the Act and what would become the subject matter of assessment is only that income which is the subject matter of violation. - Decided in favour of the assessee
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