https://www.taxtmi.com/caselaws?id=70288 The tribunal allowed the appeals for the assessment years 1983-84 and 1984-85, setting aside the Commissioner's order and restoring the original assessment orders. However, the appeal for the assessment year 1985-86 was dismissed, and the Commissioner's revisionary order was sustained, as the trust had contravened Section 13(1)(d) by not converting bonus shares into approved securities, leading to loss of exemption under Sections 11 and 12 for that year. The tribunal did not consider the additional ground seeking relief under Section 80L for the assessment year 1985-86 due to lack of dividend income. en-us Thu, 08 Feb 1990 00:00:00 +0530 Fri, 15 Apr 2011 12:29:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70288 The tribunal allowed the appeals for the assessment years 1983-84 and 1984-85, setting aside the Commissioner's order and restoring the original assessment orders. However, the appeal for the assessment year 1985-86 was dismissed, and the Commissioner's revisionary order was sustained, as the trust had contravened Section 13(1)(d) by not converting bonus shares into approved securities, leading to loss of exemption under Sections 11 and 12 for that year. The tribunal did not consider the additional ground seeking relief under Section 80L for the assessment year 1985-86 due to lack of dividend income. Case-Laws Income Tax Thu, 08 Feb 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70288