Section 13(8) - When commercial receipts exceeds the specified threshold limit Section 13(9) - Exclusion of income from the total income

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..... exemption under section 11 12 shall not be available for the previous year in which commercial receipts exceeds the prescribed limits u/s 2(15) , even if commissioner of Income tax has not cancelled the registration of the trust for such previous year. Such exemption shall not be available for such previous year by operation of law i.e. Section 13(8) . In such case, specific proce .....

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..... re the due date specified u/s 139(1) for furnishing the return of income for the said previous year In other words, The said section provides that the assessee has make furnished statement u/s 11(2) by the due date of filling of income u/s 139(1) or furnished return of income of the previous year and if the same is not filed by the due date, the exemption u/s 11(2) shall not be applicable .....

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