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Case Law Details

Case Name : Chinna Ponnu Ammal Trust Vs DCIT (ITAT Chennai)
Related Assessment Year : 2019-20
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Chinna Ponnu Ammal Trust Vs DCIT (ITAT Chennai)

After perusal of Form No.10B as placed on record, it could be seen that the assessee has applied an amount of Rs.5,55,57,015/- for the purpose of charitable trust. However, as per Explanation-3 to Sec.11(1), the disallowance of Rs.48,69,504/- u/s 40(a)(ia) would not be considered as application of income. Thus, the amount which has been applied for charitable purposes would be differential of two i.e., Rs.5,06,87,511/-. The assessee has earned income of Rs.5,17,39,216 out of which an amount of Rs.5,06,87,5

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