https://www.taxtmi.com/caselaws?id=71038 The Tribunal ruled that assessments should be conducted under section 143(3) instead of section 144. Excess income under section 11(4) was deemed not taxable, affirming the trust's tax exemption. Interest charges under sections 139(8) and 217(1A) were deleted as the trust was found not liable for tax. The majority decision aligned with the CIT(A)'s rulings, rejecting the Revenue's contentions and upholding the trust's position on all three issues. en-us Thu, 18 Feb 1993 00:00:00 +0530 Thu, 21 Apr 2011 10:42:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71038 The Tribunal ruled that assessments should be conducted under section 143(3) instead of section 144. Excess income under section 11(4) was deemed not taxable, affirming the trust's tax exemption. Interest charges under sections 139(8) and 217(1A) were deleted as the trust was found not liable for tax. The majority decision aligned with the CIT(A)'s rulings, rejecting the Revenue's contentions and upholding the trust's position on all three issues. Case-Laws Income Tax Thu, 18 Feb 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71038