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Income from property under trust held wholly for charitable purpose is allowable as exemption u/s 11
Case Law Details
- Case Name
- Ghaziabad Development Authority Vs JCIT (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2008-09
- Courts
- All ITAT, ITAT Delhi
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Ghaziabad Development Authority Vs JCIT (ITAT Delhi)
ITAT Delhi held that income derived from the property held under the trust is wholly for a charitable purpose and hence exemption under section 11 of the Income Tax Act is allowable.
Facts- The assessee is engaged in development work constituted under Uttar Pradesh Urban Planning & Development Act, 1973. The assessee has been claiming the benefits of provisions of Section 10(20A). Section 10(20A) was omitted by Finance Act, 2002. The assessee filed a return of income on 31.12.2010 declaring a total income of Rs.4,24,09,340/-.
The assessm...
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