https://www.taxtmi.com/caselaws?id=25691 The High Court of Andhra Pradesh addressed a reference under section 256(1) of the Income-tax Act, 1961, concerning the disqualification of the assessee's claim for exemption of income under section 11 of the Act. The court upheld the decision to include the interest derived from the trust property in the assessee's total income, ruling in favor of the Revenue and against the assessee. The judgment emphasized the conditions for exemption under section 11 and the implications of section 13(1) and (2) regarding the use of funds in concerns where the founder has substantial interest. en-us Wed, 28 Jan 1987 00:00:00 +0530 Sat, 30 Jan 2010 12:05:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25691 The High Court of Andhra Pradesh addressed a reference under section 256(1) of the Income-tax Act, 1961, concerning the disqualification of the assessee's claim for exemption of income under section 11 of the Act. The court upheld the decision to include the interest derived from the trust property in the assessee's total income, ruling in favor of the Revenue and against the assessee. The judgment emphasized the conditions for exemption under section 11 and the implications of section 13(1) and (2) regarding the use of funds in concerns where the founder has substantial interest. Case-Laws Income Tax Wed, 28 Jan 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25691