https://www.taxtmi.com/caselaws?id=30765 HC denied charitable trust's exemption under s.11(1A) because funds from property sale were not properly invested; part lay in a current account and part in fixed deposit. The Court held the current account balance may be treated as a proper investment pending clarification, since cheque details were unavailable. The matter was remanded to the tribunal to ascertain the cheque amounts and deposits and to reassess entitlement to exemption accordingly. en-us Mon, 18 Jun 2007 00:00:00 +0530 Wed, 03 Sep 2025 16:27:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=30765 HC denied charitable trust's exemption under s.11(1A) because funds from property sale were not properly invested; part lay in a current account and part in fixed deposit. The Court held the current account balance may be treated as a proper investment pending clarification, since cheque details were unavailable. The matter was remanded to the tribunal to ascertain the cheque amounts and deposits and to reassess entitlement to exemption accordingly. Case-Laws Income Tax Mon, 18 Jun 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=30765