https://www.taxtmi.com/caselaws?id=189864 The ITAT upheld the CIT(A)'s decision in a case involving exemption under sections 11 and 12 of the Income Tax Act, 1961 for A.Yr. 2009-10. The appeal centered on the denial of exemption due to violations of section 13(1)(c)/13(2). The ITAT limited the exemption forfeiture to amounts contravening these sections, dismissing the revenue's appeal and the assessee's cross-objection. The decision, rendered on 10-10-2014, also confirmed the addition for interest rate differences while rejecting other grounds raised by both parties. en-us Fri, 10 Oct 2014 00:00:00 +0530 Tue, 24 Jan 2017 10:21:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=189864 The ITAT upheld the CIT(A)'s decision in a case involving exemption under sections 11 and 12 of the Income Tax Act, 1961 for A.Yr. 2009-10. The appeal centered on the denial of exemption due to violations of section 13(1)(c)/13(2). The ITAT limited the exemption forfeiture to amounts contravening these sections, dismissing the revenue's appeal and the assessee's cross-objection. The decision, rendered on 10-10-2014, also confirmed the addition for interest rate differences while rejecting other grounds raised by both parties. Case-Laws Income Tax Fri, 10 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=189864