https://www.taxtmi.com/caselaws?id=258423 The High Court dismissed the Revenue's appeal, upholding the Tribunal's decision on the interpretation of sections 10 and 11 of the Income Tax Act, 1961. The Court affirmed that income derived from property held under trust for charitable or religious purposes is exempt under section 11. Additionally, the Court ruled that a trust cannot selectively claim exemptions under sections 10 or 11. The Court also upheld the Tribunal's decision regarding the utilization of accumulated funds, finding no substantial legal question. en-us Wed, 01 Apr 2015 00:00:00 +0530 Wed, 18 Feb 2026 14:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=258423 The High Court dismissed the Revenue's appeal, upholding the Tribunal's decision on the interpretation of sections 10 and 11 of the Income Tax Act, 1961. The Court affirmed that income derived from property held under trust for charitable or religious purposes is exempt under section 11. Additionally, the Court ruled that a trust cannot selectively claim exemptions under sections 10 or 11. The Court also upheld the Tribunal's decision regarding the utilization of accumulated funds, finding no substantial legal question. Case-Laws Income Tax Wed, 01 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=258423