https://www.taxtmi.com/caselaws?id=211880 The Tribunal allowed the appeal, determining that the reassessment proceedings were invalid. The assessee's income was deemed exempt under Section 10(23C)(iiiad), and the denial of exemption under Section 11 and disallowance of depreciation were considered unjustified. Consequently, the issues concerning the maximum marginal rate of tax were rendered inconsequential due to the absence of taxable income. en-us Fri, 16 Dec 2011 00:00:00 +0530 Thu, 21 Apr 2016 10:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=211880 The Tribunal allowed the appeal, determining that the reassessment proceedings were invalid. The assessee's income was deemed exempt under Section 10(23C)(iiiad), and the denial of exemption under Section 11 and disallowance of depreciation were considered unjustified. Consequently, the issues concerning the maximum marginal rate of tax were rendered inconsequential due to the absence of taxable income. Case-Laws Income Tax Fri, 16 Dec 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=211880