https://www.taxtmi.com/caselaws?id=464108 ITAT AMRITSAR - AT dismissed the Revenue's appeals, holding the disallowance under s.40(a)(ia) unsustainable because the appellant, an exempt educational society not carrying on business or profession, had income excluded under Chapter III and thus provisions tied to computation of taxable total income did not apply. The Tribunal also upheld that s.11(4) could not be invoked where there was no factual finding that the trust held any property constituting a business undertaking, so the assessing officer's reliance on s.11(4) was inappropriate. en-us Thu, 09 Jun 2011 00:00:00 +0530 Mon, 06 Oct 2025 10:45:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=464108 ITAT AMRITSAR - AT dismissed the Revenue's appeals, holding the disallowance under s.40(a)(ia) unsustainable because the appellant, an exempt educational society not carrying on business or profession, had income excluded under Chapter III and thus provisions tied to computation of taxable total income did not apply. The Tribunal also upheld that s.11(4) could not be invoked where there was no factual finding that the trust held any property constituting a business undertaking, so the assessing officer's reliance on s.11(4) was inappropriate. Case-Laws Income Tax Thu, 09 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=464108