Law:

Section:

Section 11 of the Income-tax Act, 1961 - Charitable or religious trust - Exemption of income from property held under - Whether agricultural income of assessee should be considered for purpose of section 11 - Held, yes FACTS The Tribunal held that the agricultural income of the assessee could not be considered for the purposes of section 11(1). On reference : HELD Following the case of the same assessee for the previous assessment year reported as CIT v. Panchayati Akhara Nirmal [1991] 190 ITR 121 (All.), it was to be held in the instant case that the agricultural income of the assessee should be considered for purposes of section 11. Note : The case was decided against the assessee. CASE REFERRED TO CIT v. Panchayati Akhara Nirmal [1991] 190 ITR 121 (All.). JUDGMENT B.P. Jeevan Reddy, CJ.-Under section 256(1) of the Income-tax Act, 1961, the Tribunal…

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