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Income Tax - Highlights / Catch Notes

Home Highlights April 2022 Year 2022 This

Exemption 11 - utilization of corpus fund towards revenue ...

Income Tax

April 29, 2022

Exemption 11 - utilization of corpus fund towards revenue expenditure as application of income under Section 11(1)(d) - exemption on corpus donation is allowed on purchase of land, as it is a purchase of capital asset. - concurrent finding of the CIT(A) and the ITAT sustained - HC

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