https://www.taxtmi.com/caselaws?id=335010 The Tribunal allowed the appeals for Assessment Years 2010-11 and 2011-12, directing the AO to grant exemption under Sections 11 and 12 for income received from M/s. Karishma Catering Services Pvt. Ltd. The Tribunal held that the income was in the nature of rent and not business income, emphasizing that the labeling of 'Royalty' in income records did not alter the transaction's substance. The alternative argument regarding eligibility for exemption under Section 11(4A) was not addressed due to the primary plea's success. en-us Wed, 05 Oct 2016 00:00:00 +0530 Thu, 24 Nov 2016 20:03:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=335010 The Tribunal allowed the appeals for Assessment Years 2010-11 and 2011-12, directing the AO to grant exemption under Sections 11 and 12 for income received from M/s. Karishma Catering Services Pvt. Ltd. The Tribunal held that the income was in the nature of rent and not business income, emphasizing that the labeling of 'Royalty' in income records did not alter the transaction's substance. The alternative argument regarding eligibility for exemption under Section 11(4A) was not addressed due to the primary plea's success. Case-Laws Income Tax Wed, 05 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=335010