Deemed Income u/s 11(3) can’t be a Claim of Exemption: ITAT Dismisses Appeal [Read Order]

By Sunayana Dhal - On June 24, 2023 8:00 am - 2 mins read
Deemed income-Trust- Trustee -ITAT -Income Tax -Charitable Trust Exemptions- income- tax-taxscan

The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) held that Deemed Income under Section 11(3) of the Income Tax Act, 1961 can’t be claimed as an exemption under Section 11(1)(a) and Section 11(2) of the Income Tax Act. The Assessee, Anand Mercantile Samaj Seva Trust A. M. College of Science is a charitable…

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