ITAT Mumbai Allows Section 11 Exemption as Rental Income Was From Trust Property

Advertisement Vanita Samaj Vs ITO (Exemption) (ITAT Mumbai) The Mumbai Bench of the Income Tax Appellate Tribunal allowed the appeals filed by a charitable trust for Assessment Years 2014–15 and 2015–16 and held that exemption under Section 11 of the Income-tax Act could not be denied merely because the trust earned receipts from hall rentals, decorator royalty, flour mill operations, and other incidental activities. The assessee was a trust registered under the Bombay Public Trust Act and also registered under Section 12A of the Income-tax Act. It had filed returns declaring nil income...