https://www.taxtmi.com/caselaws?id=26776 The tax deducted at source on dividend was held not to be treated as income for the purposes of section 11 of the Income-tax Act, 1961. The High Court agreed that the immunity from taxation under section 11 applies to real income actually received and applied for charitable purposes. Additionally, the entire gross dividend income was considered under section 80K without a pro rata reduction, as the assessee had other funds to meet expenditure qualifying for exemption. The court emphasized the freedom of the assessee to allocate funds in the most advantageous manner. The outcome favored the assessee with no order as to costs. en-us Tue, 11 Dec 1984 00:00:00 +0530 Mon, 08 Feb 2010 13:46:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26776 The tax deducted at source on dividend was held not to be treated as income for the purposes of section 11 of the Income-tax Act, 1961. The High Court agreed that the immunity from taxation under section 11 applies to real income actually received and applied for charitable purposes. Additionally, the entire gross dividend income was considered under section 80K without a pro rata reduction, as the assessee had other funds to meet expenditure qualifying for exemption. The court emphasized the freedom of the assessee to allocate funds in the most advantageous manner. The outcome favored the assessee with no order as to costs. Case-Laws Income Tax Tue, 11 Dec 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26776