No Tax on Grant received by Trust for participation in particular events outside India

ITO Vs Sports Good Export Promotion Council (ITAT Delhi)

It is the case of the assessee before the Assessing Officer that ‘as per Section (11)(1)(a) of the Act following income shall not be included in the total income of the previous year of the person in receipt of the income derived from property held under trust wholly for charitable or religious purpose, the extent to which such income is applied to such purposes in India and where any such income is accumulated or set apart for application to such purposes in India.

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