https://www.taxtmi.com/caselaws?id=177291 The court upheld the validity of reassessment proceedings under Section 147/148 of the Income-tax Act, denied exemptions under Sections 10(22), 11, and 12, recognized the assessee as a Trust, and approved the remand for additional evidence consideration under Rule 46A. The court found that the funds were diverted to business concerns, violating Section 13(1)(d) provisions. Consequently, the court dismissed the appeals, affirming the lower authorities' decisions and rejecting the assessee's claims for exemptions. en-us Wed, 02 Jul 2008 00:00:00 +0530 Wed, 06 Jan 2016 16:38:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177291 The court upheld the validity of reassessment proceedings under Section 147/148 of the Income-tax Act, denied exemptions under Sections 10(22), 11, and 12, recognized the assessee as a Trust, and approved the remand for additional evidence consideration under Rule 46A. The court found that the funds were diverted to business concerns, violating Section 13(1)(d) provisions. Consequently, the court dismissed the appeals, affirming the lower authorities' decisions and rejecting the assessee's claims for exemptions. Case-Laws Income Tax Wed, 02 Jul 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177291