{"id":50490,"date":"2025-02-02T09:18:55","date_gmt":"2025-02-02T03:48:55","guid":{"rendered":"https:\/\/itatonline.org\/digest\/vaishnav-samaj-trust-v-ito-2024-208-itd-507-surat-trib\/"},"modified":"2025-07-19T12:57:06","modified_gmt":"2025-07-19T07:27:06","slug":"vaishnav-samaj-trust-v-ito-2024-208-itd-507-surat-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/vaishnav-samaj-trust-v-ito-2024-208-itd-507-surat-trib\/","title":{"rendered":"Vaishnav Samaj Trust v. ITO (2024) 208 ITD 507\/ (2025) 233 TTJ 946   (Surat) (Trib.)"},"content":{"rendered":"<p>Assessee-trust sold a property on 28-4-2015 at Rs. 75 lakhs and made investment in a bank in fixed deposits. Fixed deposits were matured on 29-4-2018, which were further renewed up to 29-4-2021, which were later on converted into capital gain account scheme. Assessee utilized entire amount of capital gain for purchasing another property in financial years 2022-23 and 2023-24 and claimed exemption under section 11(1A)\u00a0 Held that\u00a0 as per\u00a0 Instruction No. 853, dated 24-9-1975, the assessee\u00a0 qualified for exemption under section 11(1A) in relevant assessment year 2016-17.\u00a0 (AY. 2016-17)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 11 : Property held for charitable purposes-Sale of property-Invested in bank fixed deposit-Converted into capital gain account scheme-Utilised entire amount of capital gain for purchasing other property in financial years 2022-23 and 2023-24-Instruction No. 883, dated 24-9-1975-Entitle to exemption.[S 11(1), 11(5), 11(IA)]  <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-50490","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-d8m","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/50490","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=50490"}],"version-history":[{"count":3,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/50490\/revisions"}],"predecessor-version":[{"id":55484,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/50490\/revisions\/55484"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=50490"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=50490"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=50490"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}