https://www.taxtmi.com/caselaws?id=171330 The HC dismissed the Revenue's appeal, affirming the Tribunal's decision in favor of the assessee on both issues. Regarding the validity of the notice under section 148 of the IT Act, the HC upheld the Tribunal's finding that the AO lacked sufficient material to believe income had escaped assessment, thus invalidating the reassessment notice. On the exemption under section 11(i)(d), the HC ruled that the exemption applied from the date of registration under section 12AA, and the trust's objectives did not restrict benefits to a specific community, making section 13(1)(a) or (b) inapplicable. en-us Thu, 21 Aug 2008 00:00:00 +0530 Fri, 15 May 2026 12:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=171330 The HC dismissed the Revenue's appeal, affirming the Tribunal's decision in favor of the assessee on both issues. Regarding the validity of the notice under section 148 of the IT Act, the HC upheld the Tribunal's finding that the AO lacked sufficient material to believe income had escaped assessment, thus invalidating the reassessment notice. On the exemption under section 11(i)(d), the HC ruled that the exemption applied from the date of registration under section 12AA, and the trust's objectives did not restrict benefits to a specific community, making section 13(1)(a) or (b) inapplicable. Case-Laws Income Tax Thu, 21 Aug 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=171330