Exemption u/s 11 allowable on Income derived from Property held under Trust wholly for Charitable Purpose: ITAT [Read Order]

Exemption - Income - Property- Trust - Charitable - Purpose - ITAT - TAXSCAN

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that Exemption u/s 11  of the Income Tax Act,1961 is allowable on income derived from property held under trust wholly for a charitable purpose. M/s Ghaziabad Development Authority, the assessee is engaged in development work constituted under Uttar Pradesh Urban Planning & Development…

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