https://www.taxtmi.com/caselaws?id=118777 The Tribunal dismissed the appeal, affirming that the appellant trust was not entitled to the benefit of section 11 of the Income Tax Act due to investments made in contravention of section 11(5). The decision highlighted the mandatory nature of investment conditions for tax exemption, emphasizing non-compliance with specified modes under section 11(5) and the overriding provision of section 13. The appellant's arguments based on relevant case laws and Circular No. 387 were rejected, leading to the denial of tax exemption for the trust's income. en-us Thu, 29 Sep 2005 00:00:00 +0530 Thu, 05 Jul 2012 16:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=118777 The Tribunal dismissed the appeal, affirming that the appellant trust was not entitled to the benefit of section 11 of the Income Tax Act due to investments made in contravention of section 11(5). The decision highlighted the mandatory nature of investment conditions for tax exemption, emphasizing non-compliance with specified modes under section 11(5) and the overriding provision of section 13. The appellant's arguments based on relevant case laws and Circular No. 387 were rejected, leading to the denial of tax exemption for the trust's income. Case-Laws Income Tax Thu, 29 Sep 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=118777