“Section 13(1)(d) of Income Tax Act, 1961 makes it clear that it is only the income from such investment or deposit which has been made in violation of section 11(5) of the Act that is liable to be taxed and violation under section 13(1)(d) does not result in denial of exemption under section 11 to the Total income of the assessee.”
CIT v/s. Orpat Charitable Trust (Tax Appeal No. 1719 of 2005 and Others)
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