corporate and professional update february 10, 2016
CORPORATE AND PROFESSIONAL UPDATE FEBRUARY 10, 2016 DIRECT TAX: IT: Mere deposit of surplus funds in FDRs cannot be treated as application of fund for charity as per section 11(1)(a) but there has to be nexus between investment in FDRs and achievement of charitable objects of assessee[2016] 66 taxmann.com 12 (Chandigarh – Trib.) Income-tax Officer (Exemptions) v. S.D. …