https://www.taxtmi.com/highlights?id=70029 Determination of income of the trust after denial of the exemptions under section 11 - Once the exemption claimed by the assessee u/s 11 of the Act has been denied, the income of the assessee has to be assessed as “business income” and assessee is entitled for all usual deductions under the provisions of the Act while computing the income of the assessee under the head “business”, more so, deduction u/s 30 to 38 of the Act it has to be allowed - AT en-us Tue, 30 May 2023 10:12:03 +0530 Tue, 30 May 2023 10:12:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=70029 Determination of income of the trust after denial of the exemptions under section 11 - Once the exemption claimed by the assessee u/s 11 of the Act has been denied, the income of the assessee has to be assessed as “business income” and assessee is entitled for all usual deductions under the provisions of the Act while computing the income of the assessee under the head “business”, more so, deduction u/s 30 to 38 of the Act it has to be allowed - AT Highlights Income Tax Tue, 30 May 2023 10:12:03 +0530 https://www.taxtmi.com/highlights?id=70029