https://www.taxtmi.com/caselaws?id=247963 The Tribunal partly allowed the appeal of the charitable trust, ruling that the denial of exemption under Section 11 due to investment in non-permissible assets did not disqualify the entire income of the trust. Exemptions under Sections 10(34), 10(35), and 10(38) were allowed as income exempt under Section 10 cannot be taxed by applying Sections 11 to 13. The Tribunal also upheld the exemption for education grants given to Indian students studying abroad, emphasizing that the application of income in India sufficed. Additionally, the Tribunal directed a reconsideration of the deduction of income applied to the trust's objects and administrative expenses, allowed the credit for TDS, and decided in favor of the assessee regarding the applicability of the maximum marginal rate of tax on the entire income. en-us Wed, 26 Mar 2014 00:00:00 +0530 Wed, 11 Mar 2026 10:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=247963 The Tribunal partly allowed the appeal of the charitable trust, ruling that the denial of exemption under Section 11 due to investment in non-permissible assets did not disqualify the entire income of the trust. Exemptions under Sections 10(34), 10(35), and 10(38) were allowed as income exempt under Section 10 cannot be taxed by applying Sections 11 to 13. The Tribunal also upheld the exemption for education grants given to Indian students studying abroad, emphasizing that the application of income in India sufficed. Additionally, the Tribunal directed a reconsideration of the deduction of income applied to the trust's objects and administrative expenses, allowed the credit for TDS, and decided in favor of the assessee regarding the applicability of the maximum marginal rate of tax on the entire income. Case-Laws Income Tax Wed, 26 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=247963