Search: charitable trust

2 results for “charitable trust”+ Section 69Bclear

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Section 11(1)(a)8 Section 116 Section 142(1)2 Charitable Trust2 Exemption2 Deduction2

M/S S.KANEHIALALL LOHIA TRUST,KOLKATA vs. I.T.O., WARD-1(4), KOLKATA

In the result, both the appeals of assessee are allowed

ITA 813/KOL/2019[2013-14]Status: DisposedITAT Kolkata10 Jan 2020AY 2013-14

Bench: Shri A. T. Varkey, Jm]

Section 11Section 11(1)(a)Section 142(1)

section the income which is to be taken for purpose of accumulation is the income derived by the trust from property. If both the decisions are carefully read, it becomes evident that any expenditure which is in the shape of application of income is not to be taken into account. Having found that trust is entitled to exemption under

M/S S.KANEHIALALL LOHIA TRUST,KOLKATA vs. I.T.O., WARD-1(4), KOLKATA

In the result, both the appeals of assessee are allowed

ITA 814/KOL/2019[2014-15]Status: Disposed