https://www.taxtmi.com/caselaws?id=218744 The Tribunal dismissed the Department's appeal, upholding the CIT(A)'s decision to grant exemption under sections 11 and 12 of the Income Tax Act to the assessee. The Tribunal found no violation of section 13(1)(c) as the funds were used for the charitable purpose of developing and maintaining forest lands, and there was no evidence of any benefit to the family with substantial interest in multiple societies. The revised classification of the donation as a capital receipt was accepted. en-us Fri, 27 Jul 2012 00:00:00 +0530 Sat, 24 Nov 2012 01:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=218744 The Tribunal dismissed the Department's appeal, upholding the CIT(A)'s decision to grant exemption under sections 11 and 12 of the Income Tax Act to the assessee. The Tribunal found no violation of section 13(1)(c) as the funds were used for the charitable purpose of developing and maintaining forest lands, and there was no evidence of any benefit to the family with substantial interest in multiple societies. The revised classification of the donation as a capital receipt was accepted. Case-Laws Income Tax Fri, 27 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=218744