https://www.taxtmi.com/caselaws?id=794542 Exemption under sections 11 and 12 is denied only to the portion of charitable trust income applied, directly or indirectly, for the benefit of persons covered by section 13(3), rather than being withdrawn wholesale. A recipient concern does not qualify as a specified concern unless the relevant voting-power threshold under Explanation 3 to section 13 is met. Revenue and capital expenditure supported by invoices and related records may remain eligible as application of income despite procedural errors in Form 10B, absence of open tender, or alleged non-response to a notice under section 133(6). For the relevant period, actual payment before claiming application of income was not mandatory. en-us Thu, 02 Jul 2026 00:00:00 +0530 Tue, 07 Jul 2026 08:39:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=794542 Exemption under sections 11 and 12 is denied only to the portion of charitable trust income applied, directly or indirectly, for the benefit of persons covered by section 13(3), rather than being withdrawn wholesale. A recipient concern does not qualify as a specified concern unless the relevant voting-power threshold under Explanation 3 to section 13 is met. Revenue and capital expenditure supported by invoices and related records may remain eligible as application of income despite procedural errors in Form 10B, absence of open tender, or alleged non-response to a notice under section 133(6). For the relevant period, actual payment before claiming application of income was not mandatory. Case-Laws Income Tax Thu, 02 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=794542