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of <h1>Charitable Trusts Face Denied Tax Exemptions for Violations Under Sections 11, 12, and 13(3) of the Income Tax Act.</h1> Exemptions under Sections 11 and 12 of the Income Tax Act are denied in specific cases for charitable, religious, and educational trusts or institutions. These include income from private religious trusts not benefiting the public, income benefiting a particular religious community, income benefiting specified persons under Section 13(3), and improper investment of funds. Violations can result in penalties, including 100% to 200% of the income applied improperly. The relaxation under Section 56(2)(x) does not apply to sums received by specified persons under Section 13(3). Investments must adhere to Section 11(5) specifications to maintain eligibility for exemptions.
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