https://www.taxtmi.com/caselaws?id=426346 The Income Tax Appellate Tribunal (ITAT) ruled in favor of the assessee, overturning the addition of Rs. 79,95,000 as income. The ITAT held that the charitable trust did not violate investment norms specified under Section 11(5) of the Income Tax Act, 1961. The judgment emphasized the importance of adhering to investment norms and clarified the interpretation of Section 13(1)(d) regarding investments and deposits made by charitable trusts. en-us Thu, 11 Aug 2022 00:00:00 +0530 Fri, 12 Aug 2022 12:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426346 The Income Tax Appellate Tribunal (ITAT) ruled in favor of the assessee, overturning the addition of Rs. 79,95,000 as income. The ITAT held that the charitable trust did not violate investment norms specified under Section 11(5) of the Income Tax Act, 1961. The judgment emphasized the importance of adhering to investment norms and clarified the interpretation of Section 13(1)(d) regarding investments and deposits made by charitable trusts. Case-Laws Income Tax Thu, 11 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426346