https://www.taxtmi.com/caselaws?id=271564 The Tribunal allowed the appeal of the venture capital fund, holding that the committed amount by investors should be considered as the corpus fund, not the actual contributions made. As the investments did not exceed the 25% limit of the committed corpus, the fund did not violate SEBI regulations. Additionally, the Tribunal determined that interest income from bank deposits qualified for exemption under Section 10(23FB) for the assessment year 2007-08, contrary to the AO's argument. The order of the CIT(A) was set aside, and the AO was directed to grant the exemption in full. en-us Fri, 08 Jan 2016 00:00:00 +0530 Tue, 21 Jul 2026 14:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=271564 The Tribunal allowed the appeal of the venture capital fund, holding that the committed amount by investors should be considered as the corpus fund, not the actual contributions made. As the investments did not exceed the 25% limit of the committed corpus, the fund did not violate SEBI regulations. Additionally, the Tribunal determined that interest income from bank deposits qualified for exemption under Section 10(23FB) for the assessment year 2007-08, contrary to the AO's argument. The order of the CIT(A) was set aside, and the AO was directed to grant the exemption in full. Case-Laws Income Tax Fri, 08 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=271564