https://www.taxtmi.com/highlights?id=70119 Exemption u/s 11(1)(a) and Section 11(2) for Deemed income u/s 11(3) - Assessee would be allowed to accumulate the income if there is “real income” which is in possession of the assessee - something which is not in possession of the assessee cannot be accumulated or utilized at a later date. - Therefore “deemed income” u/s 11(3) of the Act is not eligible for claim of exemption under Section 11(1)(a) and Section 11(2) of the Act. - AT en-us Sat, 03 Jun 2023 08:54:31 +0530 Sat, 03 Jun 2023 13:47:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=70119 Exemption u/s 11(1)(a) and Section 11(2) for Deemed income u/s 11(3) - Assessee would be allowed to accumulate the income if there is “real income” which is in possession of the assessee - something which is not in possession of the assessee cannot be accumulated or utilized at a later date. - Therefore “deemed income” u/s 11(3) of the Act is not eligible for claim of exemption under Section 11(1)(a) and Section 11(2) of the Act. - AT Highlights Income Tax Sat, 03 Jun 2023 08:54:31 +0530 https://www.taxtmi.com/highlights?id=70119