https://www.taxtmi.com/manuals?id=3610 Penalty provision prescribes that where an institution applies income for the benefit of an interested person the first breach attracts a penalty equal to the extent of income so applied, and any subsequent breach in later years attracts a penalty equal to twice the amount of such misapplied income. en-us Thu, 14 Dec 2023 14:29:00 +0530 Thu, 14 Dec 2023 15:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=3610 Penalty provision prescribes that where an institution applies income for the benefit of an interested person the first breach attracts a penalty equal to the extent of income so applied, and any subsequent breach in later years attracts a penalty equal to twice the amount of such misapplied income. Manuals Income Tax Thu, 14 Dec 2023 14:29:00 +0530 https://www.taxtmi.com/manuals?id=3610