https://www.taxtmi.com/caselaws?id=433153 The appeal by a charitable trust regarding denial of exemption under sections 11 and 12 for alleged violations of Section 13(1)(c) and 13(1)(d) was partially successful. The court referred the matter back to the CIT(A) for a fresh examination of legal and factual aspects. The additions under Section 40(A)(3) and imputed interest on investments were also subject to reevaluation. The appellant's arguments for beneficial ownership of assets and restricted additions based on violations were considered, leading to a remand for further review. The case outcome favored the appellant, allowing for a reexamination of the issues involved. en-us Fri, 20 Jan 2023 00:00:00 +0530 Mon, 23 Jan 2023 08:43:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433153 The appeal by a charitable trust regarding denial of exemption under sections 11 and 12 for alleged violations of Section 13(1)(c) and 13(1)(d) was partially successful. The court referred the matter back to the CIT(A) for a fresh examination of legal and factual aspects. The additions under Section 40(A)(3) and imputed interest on investments were also subject to reevaluation. The appellant's arguments for beneficial ownership of assets and restricted additions based on violations were considered, leading to a remand for further review. The case outcome favored the appellant, allowing for a reexamination of the issues involved. Case-Laws Income Tax Fri, 20 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433153