https://www.taxtmi.com/caselaws?id=768364 ITAT Chandigarh dismissed Revenue's appeal regarding trust exemption under section 11. The assessee trust made corpus donations to three other registered educational trusts. The AO denied exemption claiming improper income application. However, ITAT upheld CIT(A)'s finding that corpus donations to registered trusts constitute valid utilization of current year's income for exemption purposes. The trust's donations were properly considered as income application, making denial of section 11 exemption unjustified. en-us Tue, 01 Apr 2025 00:00:00 +0530 Sat, 05 Apr 2025 08:23:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768364 ITAT Chandigarh dismissed Revenue's appeal regarding trust exemption under section 11. The assessee trust made corpus donations to three other registered educational trusts. The AO denied exemption claiming improper income application. However, ITAT upheld CIT(A)'s finding that corpus donations to registered trusts constitute valid utilization of current year's income for exemption purposes. The trust's donations were properly considered as income application, making denial of section 11 exemption unjustified. Case-Laws Income Tax Tue, 01 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768364