https://www.taxtmi.com/highlights?id=51259 Exemption u/s.11 - Subscription to the chits is nothing but the investment which is not one of the prescribed mode of investment u/s.11(5). Therefore it is a clear case of violation of provisions of Section 11(5), hence assessee trust is not entitled for exemption u/s. 11 - AO directed to restrict the taxable income to the extent of violation of Section 11(5) en-us Thu, 16 Jan 2020 15:32:41 +0530 Thu, 16 Jan 2020 15:32:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=51259 Exemption u/s.11 - Subscription to the chits is nothing but the investment which is not one of the prescribed mode of investment u/s.11(5). Therefore it is a clear case of violation of provisions of Section 11(5), hence assessee trust is not entitled for exemption u/s. 11 - AO directed to restrict the taxable income to the extent of violation of Section 11(5) Highlights Income Tax Thu, 16 Jan 2020 15:32:41 +0530 https://www.taxtmi.com/highlights?id=51259