The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) has exempted gold donation of religious trust towards corpus funds under Section 11(1)(d) of the Income Tax Act 1961. The assessee, Swaminarayan Bhagwan Kalakendra was a public trust and registered under Bombay Public Trust Act, 1950. The object of the trust is religious activities. The Assessing…
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