Exemption Granted: Assessee Entitled to Section 11(2) Income Tax Act Exemption Despite Technical Lapse in Fund Accumulation Process.

Exemption Granted: Assessee Entitled to Section 11(2) Income Tax Act Exemption Despite Technical Lapse in Fund Accumulation Process. https://www.taxtmi.com/highlights?id=28904 Entitlement to exemption u/s 11(2) - Since the assessee has followed the procedure for accumulation except for the technical lapse, which can be condoned and since the assessee has applied the accumulated funds for the objects of the trust in India, exemption allowed - AT en-us Tue, 03 May 2016 09:32:38 +0530 Sun, 01 May 2016 23:56:01 +0530 TaxTMI RSS Generator Exemption Granted: Assessee Entitled to Section 11(2) Income Tax Act Exemption Despite Technical Lapse in Fund Accumulation Process. https://www.taxtmi.com/highlights?id=28904 Entitlement to exemption u/s 11(2) - Since the assessee has followed the procedure for accumulation except for the technical lapse, which can be condoned and since the assessee has applied the accumulated funds for the objects of the trust in India, exemption allowed - AT Highlights Income Tax Tue, 03 May 2016 09:32:38 +0530 https://www.taxtmi.com/highlights?id=28904