Temple Project Advances Count as Application of Income u/s 11

Karikkakom Chamundi Temple Trust Vs ADIT (Exemption) (ITAT Cochin)

No Diversion, Only Devotion – Advances towards temple projects not future expense but present application u/s 11; Capital Outlay for Temple Is Application — AO’s Narrow View Rejected-Temple Construction Advances Count as Application: ITAT Allows 11 Exemption

Assessee, Karikkakom Chamundi Temple Trust, is registered u/s 12AA. For AY 2003-04, it filed a NIL income return claiming exemption u/s 11. The trust claimed expenditure on investment in immovable assets as “application of income,

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