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Section 11(3) - Exemption withdrawn if specific conditions not satisfied

Income Tax - Charitable, Religious, Educational Trust or Institutions or Organizations and Political Parties - 05 - SEC - 11(3): EXEMPTION WITHDRAWN IF SPECIFIC CONDITIONS NOT SATISFIED Any income referred to in section 11(2) which- is applied to purposes other than charitable or religious purposes for which it was accumulated or set apart then it shall be deemed to be the income of the previous year in which it is so applied or ceases to remain invested in modes specified in section 11(5), then .....

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