Contribution received from commodity exchange exempt i/s. 10(23EC) of Income Tax Act

ITO Vs NCDEX Investor (Client) Protection Fund Trust (ITAT Mumbai) Held that prior to 1-­4- 2024 there was no bar on assessee claiming exemption under section 10 (23EC) and under section 11 and 12 of the act. Accordingly, contribution received from commodity exchange and members thereof is exempt u/s 10(23EC) of the Income Tax Act. Facts- Assessee trust has been established by National Commodity & Derivatives Exchange Limited (NCDEX) by trust deed dated 25th June, 2012 with an object of compensating eligible claims of investors against defaulting members. It has the object also of creatin...