[aaykarbhavan] Sum paid by trust to other trusts registered either u/s 12AA or u/s 10(23C) won't be held as application of income

 

Sum paid by trust to other trusts registered either u/s 12AA or u/s 10(23C) won't be held as application of income

April 15, 2015[2015] 55 taxmann.com 433 (Cochin - Trib.)/[2015] 37 ITR(T) 495 (Cochin - Trib.)

IT : Where assessee trusts advanced loan to other trusts which exceeded 15 per cent of their income, claim of exemption was to be decided in view of Explanation to section 11(2) and section 11(3)(d)

Regards

Prarthana Jalan

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Posted by: Prarthana Jalan <prarthanajalan@ymail.com>

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