https://www.taxtmi.com/caselaws?id=325786 The High Court upheld the Tribunal's decision to grant the assessee the exemption under Section 10(22A) of the Income Tax Act for the assessment years 1986-87 and 1987-88. It clarified that private limited companies can qualify for exemption under Section 10(22A) as the legislation does not restrict their eligibility based on the Companies Act provisions. The Court dismissed the revenue's challenges and affirmed the assessee's entitlement to the exemption, settling the issues raised in the case. en-us Thu, 18 Feb 2016 00:00:00 +0530 Wed, 04 May 2016 14:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325786 The High Court upheld the Tribunal's decision to grant the assessee the exemption under Section 10(22A) of the Income Tax Act for the assessment years 1986-87 and 1987-88. It clarified that private limited companies can qualify for exemption under Section 10(22A) as the legislation does not restrict their eligibility based on the Companies Act provisions. The Court dismissed the revenue's challenges and affirmed the assessee's entitlement to the exemption, settling the issues raised in the case. Case-Laws Income Tax Thu, 18 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325786