2 Section 11 & 13(1)(d) – It is only the income from such investment or deposit which has been made in violation of section 11(5), that is liable to be taxed; violation of section 13(1)(d) does not result in the denial of exemption u/s. 11 to the total income of the assessee.
Jagdish T. Punjabi, Devendra Jain, Tejaswini Ghag, Chartered Accountants
 194 TTJ (Del) 715
ITO vs. The Times Centre for Media and