TaxTMI 
TaxTMI 
application of income u/s 11
Application of income u/s 11
10 Sep 2009 
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Application of income under section 11 requires strict statutory application and case-law guidance where ambiguities arise.
Income derived from the sources enumerated in the charitable income provisions must be applied strictly in accordance with those self-contained provisions read together, and ambiguities about the nature of application should be resolved by reference to case law and the specific factual use of funds. (AI Summary)
Income derived from the sources enumerated in the charitable income provisions must be applied strictly in accordance with those self-contained provisions read together, and ambiguities about the nature of application should be resolved by reference to case law and the specific factual use of funds. (AI Summary)