https://www.taxtmi.com/caselaws?id=471047 Breach of the prescribed investment conditions by a charitable trust under Section 13(1)(d) affects only income attributable to the offending investment, rather than withdrawing Section 11 exemption for the trust's entire income. An unproved advance for purchase of property was treated as an investment outside the permitted modes under Section 11(5). The income referable to that advance is subject to denial of exemption and taxation at the maximum marginal rate, while the trust remains entitled to exemption for its remaining income. en-us Wed, 08 Feb 2023 00:00:00 +0530 Wed, 19 Aug 2026 18:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471047 Breach of the prescribed investment conditions by a charitable trust under Section 13(1)(d) affects only income attributable to the offending investment, rather than withdrawing Section 11 exemption for the trust's entire income. An unproved advance for purchase of property was treated as an investment outside the permitted modes under Section 11(5). The income referable to that advance is subject to denial of exemption and taxation at the maximum marginal rate, while the trust remains entitled to exemption for its remaining income. Case-Laws Income Tax Wed, 08 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471047