15% Deduction under Section 11(1)(a) Applies to Gross Receipts, Not Surplus: ITAT Pune

DCIT (Exemption) Vs Dr. D. Y. Patil (ITAT Pune) Absolute 15% Exemption Upheld for Charitable Trusts – ITAT Pune Rejects Revenue’s Restriction on Section 11(1)(a); ITAT Rules 15% Deduction under Section 11(1)(a) Applies to Gross Receipts, Not Surplus; Absolute Nature of Section 11(1)(a) Exemption Reaffirmed – ITAT Dismisses Revenue Appeal; Charitable Trusts Entitled to Full 15% Accumulation on Receipts, Rules ITAT Pune; ITAT Dismisses Revenue Appeal, Confirms 15% Exemption on Gross Income for Charitable Trusts; Section 11(1)(a) Exemption is Absolute – ITAT Upholds Deduction on Gross Rec...