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

Advertisement 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...