https://www.taxtmi.com/caselaws?id=431259 The Tribunal upheld the denial of exemption under section 11 for a charitable society organizing golf tournaments, due to investments not complying with specified modes under section 11(5). Despite spending over 85% of receipts for charitable purposes, the society's investment in Mahindra and Mahindra finance was deemed non-compliant with section 11(5), leading to the denial of exemption under section 11. The Tribunal emphasized the necessity of adhering to prescribed investment modes for charitable institutions to qualify for exemption under section 11, ultimately dismissing the appeal. en-us Mon, 13 Jun 2022 00:00:00 +0530 Fri, 09 Dec 2022 11:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431259 The Tribunal upheld the denial of exemption under section 11 for a charitable society organizing golf tournaments, due to investments not complying with specified modes under section 11(5). Despite spending over 85% of receipts for charitable purposes, the society's investment in Mahindra and Mahindra finance was deemed non-compliant with section 11(5), leading to the denial of exemption under section 11. The Tribunal emphasized the necessity of adhering to prescribed investment modes for charitable institutions to qualify for exemption under section 11, ultimately dismissing the appeal. Case-Laws Income Tax Mon, 13 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431259