https://www.taxtmi.com/caselaws?id=236143 The tribunal upheld the appellant's eligibility for exemption under Section 11, ruling that pledging Fixed Deposit Receipts did not violate Section 13, allowing the purchase of fixed assets as application of funds. Additionally, the tribunal held that unspent grants were not taxable income as they were tied up for specific projects and not voluntary contributions. The revenue's appeals for both assessment years were dismissed, with the order pronounced on 01/04/2011. en-us Fri, 01 Apr 2011 00:00:00 +0530 Fri, 16 Aug 2013 08:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=236143 The tribunal upheld the appellant's eligibility for exemption under Section 11, ruling that pledging Fixed Deposit Receipts did not violate Section 13, allowing the purchase of fixed assets as application of funds. Additionally, the tribunal held that unspent grants were not taxable income as they were tied up for specific projects and not voluntary contributions. The revenue's appeals for both assessment years were dismissed, with the order pronounced on 01/04/2011. Case-Laws Income Tax Fri, 01 Apr 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=236143