Exemption u/s11(1) of Income Tax Act Not available for expense incurred for giving Mementos to Presidents and Secretaries of Milk Producers Association: ITAT [Read Order]

By Aparna. M - On March 1, 2024 2:32 pm - 2 mins read
ITAT - ITAT Bangalore - Income Tax - Exemption - TAXSCAN

Bangalore bench of Income Tax Appellate Tribunal ( ITAT ) ruled that exemption under Section 11(1) of the Income Tax Act, 1961 shall not be available for expenses incurred for giving mementos to presidents and secretaries of Milk Producers Association. The assessee MYMUL Raitha Kalyana Trust,after filing the return of the income for the assessment year…

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