Foreign portfolio investment liberalisation extends listed equity access to all individual persons resident outside India, subject to limit monitoring...
Unsubstantiated exempt agricultural income claim sustains concealment penalty after disclosure only on departmental detection and no bona fide evidenc...
Page of 4809
Press 'Enter' after typing page number.
2241 to 2260 of 96177 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
Corpus donations, being distinct from incomes derived from trust property, are granted exemption separately u/s 11(1)(a) and 11(1)(d) of the Act. There is no overlapping exemption. Different incomes recognized for exemption have been separately granted exemption. Corpus donations cannot claim exemption under both sub-clauses (d) and (a) of Section 11(1). The assessee was unable to point out any infirmity in this interpretation during the hearing before the Appellate Tribunal. The decisions relied upon by the assessee were either distinguishable on facts or rendered without considering the clear provision of law. The assessee's appeal seeking exemption u/s 11(1)(a) for corpus donations received was dismissed.
Corpus donations, being distinct from incomes derived from trust property, are granted exemption separately u/s 11(1)(a) and 11(1)(d) of the Act. There is no overlapping exemption. Different incomes recognized for exemption have been separately granted exemption. Corpus donations cannot claim exemption under both sub-clauses (d) and (a) of Section 11(1). The assessee was unable to point out any infirmity in this interpretation during the hearing before the Appellate Tribunal. The decisions relied upon by the assessee were either distinguishable on facts or rendered without considering the clear provision of law. The assessee's appeal seeking exemption u/s 11(1)(a) for corpus donations received was dismissed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4809 
Join Channel 
