https://www.taxtmi.com/caselaws?id=237706 The High Court set aside the Tribunal and lower authorities' orders, remitting the matter to the Assessing Authority to determine if the assessee violated Section 11(5) of the Income Tax Act. The prescribed authority will decide on rescinding the exemption if necessary, after providing the assessee an opportunity to be heard. The appeal was allowed in favor of the Revenue, directing further assessment actions based on the findings regarding the infringement and exemption issues. en-us Mon, 01 Apr 2013 00:00:00 +0530 Sat, 26 Oct 2013 13:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=237706 The High Court set aside the Tribunal and lower authorities' orders, remitting the matter to the Assessing Authority to determine if the assessee violated Section 11(5) of the Income Tax Act. The prescribed authority will decide on rescinding the exemption if necessary, after providing the assessee an opportunity to be heard. The appeal was allowed in favor of the Revenue, directing further assessment actions based on the findings regarding the infringement and exemption issues. Case-Laws Income Tax Mon, 01 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=237706