SHRI PRABHAS PATAN JAIN SWETAMBERMURTI PUJAK SANGH,RAJKOT vs. THE INCOME TAX OFFICER (EXEMPTION), WARD-2,, RAJKOT
In the result, the appeal of the assessee is dismissed for assessment year 2016-17
ITA 216/RJT/2019[2016-17]Status: DisposedITAT Rajkot22 Feb 2023AY 2016-17
Bench: Shri Waseem Ahmed (Accountant Member), Shri Siddhartha Nautiyal (Judicial Member)
For Appellant: Shri G.R. Sanghavi, A.RFor Respondent: Shri B.D. Gupta, Sr. D.R
Section 11Section 11(1)Section 11(1)(a)Section 11(2)Section 11(3)Section 250
Charitable Trust and the entire income consists of “deemed income” u/s 11(3) of the Act, which remained unapplied at the end of the fifth year. For simplicity, let us take this income to be " 1 lakh. Then, if we were to accept that such “deemed income” is eligible for deduction