High Court Confirms No Violation of Section 13(1)(c) in Tax Exemption Case Under Income Tax Act Section 11.
Case-Laws
Income Tax
Exemption under section 11 of the IT Act – no violation of the provisions of section 13(1)(c) of the IT Act as the interest earned on the funds received from institutional members would only reduce the cost which in turn would get proportionately divided amongst the institutional members….. – HC
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