section 11 of income tax act

Whether Capital Expenditure is an Application of Income under Section 11 of the Income Tax Act

26 November 2024 by Adv Aditya Narayan

The consistent rulings of various High Courts and the Supreme Court affirm that capital expenditures made to achieve a trust’s charitable objectives are valid applications of income under Section 11 of the Income Tax Act. Treatment of Capital Expenditure to …

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ITAT Chennai Order on Section 11 Applicability When Trust Activities Are Commercial By Nature

27 November 202311 November 2023 by Adv Aditya Narayan

Exemption U.S.11 Cannot Be Granted When Trust Activities Are Commercial In a recent ruling concerning Section 11 of the Income Tax Act, 1961, the Income Tax Appellate Tribunal (ITAT) Chennai bench emphasized that exemptions cannot be granted when the activities …

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