https://www.taxtmi.com/highlights?id=27745 Entitlement to exemption u/s 11 - there is a violation of sec. 13(1)(c) of the Act as the assessee invested funds in a limited company where the trustee is the Managing Director and his wife is a Director - where the nonexempt portion of relevant income arises as a consequence of the contravention of the provisions of sec. 13(1)(c) or (d), the said income would be subject to tax at the maximum marginal rate. - AT en-us Thu, 03 Mar 2016 18:31:00 +0530 Thu, 03 Mar 2016 18:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=27745 Entitlement to exemption u/s 11 - there is a violation of sec. 13(1)(c) of the Act as the assessee invested funds in a limited company where the trustee is the Managing Director and his wife is a Director - where the nonexempt portion of relevant income arises as a consequence of the contravention of the provisions of sec. 13(1)(c) or (d), the said income would be subject to tax at the maximum marginal rate. - AT Highlights Income Tax Thu, 03 Mar 2016 18:31:00 +0530 https://www.taxtmi.com/highlights?id=27745