Environmental Trust’s Contractual Receipts Held Charitable: Section 11 Exemption allowed

ACIT (Exemption) Vs Gujarat Enviormental Service (ITAT Ahmedabad) Environmental Trust’s Contractual Receipts Held Charitable: ITAT Ahmedabad Upholds Section 11 Exemption The Ahmedabad Bench of the ITAT dismissed the Revenue’s appeal and upheld the CIT(A)’s order granting exemption under Section 11 to a charitable trust engaged in environmental protection activities for AY 2023-24. The Assessing Officer had denied exemption on the ground that the trust’s receipts arose from contractual activities and were not income derived from property held under trust, thereby taxing the surplus as �...