https://www.taxtmi.com/caselaws?id=260365 The Tribunal partly allowed the appeal, upholding the assessment of income and denial of exemption under Sections 11 and 12, confirming the trust's activities were in the nature of business. However, the disallowance of software expenditure was deleted, treating it as revenue in nature. The levy of interest was deemed consequential, and the initiation of penalty proceedings was dismissed as premature. en-us Wed, 13 May 2015 00:00:00 +0530 Sat, 06 Jun 2015 16:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=260365 The Tribunal partly allowed the appeal, upholding the assessment of income and denial of exemption under Sections 11 and 12, confirming the trust's activities were in the nature of business. However, the disallowance of software expenditure was deleted, treating it as revenue in nature. The levy of interest was deemed consequential, and the initiation of penalty proceedings was dismissed as premature. Case-Laws Income Tax Wed, 13 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=260365