https://www.taxtmi.com/caselaws?id=210188 The Tribunal upheld the Commissioner of Income-tax (Appeals) decision, granting exemption under section 11 to the Trust operating an engineering college. The Trust's surplus income and corpus donations were not considered taxable. Reassessment proceedings under section 147 were deemed valid. The issues regarding the levy of tax at maximum marginal rates, surcharge, and interest were considered academic due to the exemption granted under section 11. The Tribunal dismissed the revenue's appeal and the assessee's cross-objection. en-us Thu, 09 Jun 2011 00:00:00 +0530 Sat, 22 Oct 2011 01:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=210188 The Tribunal upheld the Commissioner of Income-tax (Appeals) decision, granting exemption under section 11 to the Trust operating an engineering college. The Trust's surplus income and corpus donations were not considered taxable. Reassessment proceedings under section 147 were deemed valid. The issues regarding the levy of tax at maximum marginal rates, surcharge, and interest were considered academic due to the exemption granted under section 11. The Tribunal dismissed the revenue's appeal and the assessee's cross-objection. Case-Laws Income Tax Thu, 09 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=210188