No violation of sec. 11 provisions if trust was restrained by HC from converting shares into permissible investments

IT: SLP dismissed against High Court ruling that where assessee a charitable trust was restrained from converting shares held by it in private limited company to other forms of permissible investment by virtue of restraint order of High Court in case of settlors from whom it had received shares, it could not be held liable for violation of provisions of section 11(5) read with section 13(1)(d) for holding shares for more than prescribed period

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