Relief to JN Tata Endowment: ITAT dismisses Revenue Appeal against Income Tax Act Section 11 Exemption Availment [Read Order]

The AO relied on the interpretation that both the application of funds and the charitable activities must be confined to Indian territory for the income to qualify for exemption under Section 11.
By Manu Sharma - On August 28, 2024 6:10 am - 2 mins read
Section 11 Trust - JN Tata Exemption - ITAT Decision Mumbai - Charity Tax Exemption - Income Tax Tribunal Ruling - taxscan

In a significant ruling, the Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) dismissed the appeal filed by the Revenue against JN Tata Endowment for the Higher Education of Indians, affirming the entitlement of the charitable trust to the exemption available under Section 11 of the Income Tax Act, 1961. JN Tata Endowment, a…

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