Income Affected by Section 13(1)(d) Loses Exemption, Rest of Trust's Income Retains Benefits u/s 11.

Income Affected by Section 13(1)(d) Loses Exemption, Rest of Trust's Income Retains Benefits u/s 11. https://www.taxtmi.com/highlights?id=69037 Exemption u/s 11 - Assessee has violated section 11(2)(b) r.w.s. 11(5) - Only the relevant income falling within the mischief of section 13(1)(d) of the Act will lose the benefit of exemption under section 11 and 12 of the Act and the balance of the total income of the trust will remain eligible for the benefit of exemption under section 11 of the Act. - AT en-us Sat, 01 Apr 2023 13:38:14 +0530 Sat, 01 Apr 2023 13:38:14 +0530 TaxTMI RSS Generator Income Affected by Section 13(1)(d) Loses Exemption, Rest of Trust's Income Retains Benefits u/s 11. https://www.taxtmi.com/highlights?id=69037 Exemption u/s 11 - Assessee has violated section 11(2)(b) r.w.s. 11(5) - Only the relevant income falling within the mischief of section 13(1)(d) of the Act will lose the benefit of exemption under section 11 and 12 of the Act and the balance of the total income of the trust will remain eligible for the benefit of exemption under section 11 of the Act. - AT Highlights Income Tax Sat, 01 Apr 2023 13:38:14 +0530 https://www.taxtmi.com/highlights?id=69037