Exemption u/s 11 - Determination of application of income and ...

Court Clarifies "Income" u/s 11(1a) of Income Tax Act for Trust Exemption; Commercial Sense Prevails.

October 8, 2020

Case Laws Income Tax HC

Exemption u/s 11 - Determination of application of income and accumulation of income - claim of deduction of the claim of assessee for an amount u/s 24(a) from rental income - the word ‘income’ in Section 11(1a) of the Act must be understood in commercial sense and the entire income of the trust in the commercial sense has been spent for the purpose of charity. - HC

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Exemption u/s 11 - Determination of application of income and ...

Court Clarifies "Income" u/s 11(1a) of Income Tax Act for Trust Exemption; Commercial Sense Prevails.

October 8, 2020

Case Laws Income Tax HC

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