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2012 (8) TMI 422 - AT - Income TaxDenial exemption u/s 11 of the Act – whether because of these violations as mentioned by the Assessing Officer (a) whether the appellant forfeits the entire exemption available to it or (b) whether the denial of exemption should only be proportionate to the diversion of the funds made by the appellant. - held that:- the assessee is not eligible for exemption u/ss 11 and 12 of the Act.
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