Exemption u/s 11 - accumulation of income - In section 11(6), it ...
Income Tax
March 1, 2022
Exemption u/s 11 - accumulation of income - In section 11(6), it is specifically provided that "In this section, where any income is required to be applied or accumulated or set apart " does not make any distinction as to whether such income should be only revenue receipts and not capital receipts in the form of corpus donation with specific directions for construction of the hospital building and other infrastructural facilities as brought on record by the assessee. The legal position as existing at the relevant of point, we find no infirmity in the order passed by the ld.CIT(A) in allowing the claim of the assessee. - AT
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