https://www.taxtmi.com/caselaws?id=103432 Exemption under section 11 could not be denied merely for want of an audit report where the assessee had produced audited books and relevant details, and the corpus donations received were lower than the year's expenditure. On the material on record, the addition of corpus receipts was unjustified, and prior-year assessment treatment also showed exemption had been allowed on satisfaction of the conditions. The denial of exemption was therefore not sustainable and relief to the assessee was upheld. en-us Wed, 31 Oct 2001 00:00:00 +0530 Wed, 22 Feb 2012 17:53:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103432 Exemption under section 11 could not be denied merely for want of an audit report where the assessee had produced audited books and relevant details, and the corpus donations received were lower than the year's expenditure. On the material on record, the addition of corpus receipts was unjustified, and prior-year assessment treatment also showed exemption had been allowed on satisfaction of the conditions. The denial of exemption was therefore not sustainable and relief to the assessee was upheld. Case-Laws Income Tax Wed, 31 Oct 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103432