https://www.taxtmi.com/caselaws?id=190095 The Tribunal found the assessee eligible for exemption under section 11 of the Income Tax Act due to fulfilling conditions under section 11(4A), supported by government approval, separate accounts, and lack of surplus funds. The High Court upheld this decision based on factual findings and account maintenance. Regarding the adjustment of deficit to surplus, the Court dismissed the appeal, citing a previous decision where a similar issue was settled against the revenue. en-us Tue, 15 Feb 2011 00:00:00 +0530 Mon, 06 Feb 2017 11:45:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=190095 The Tribunal found the assessee eligible for exemption under section 11 of the Income Tax Act due to fulfilling conditions under section 11(4A), supported by government approval, separate accounts, and lack of surplus funds. The High Court upheld this decision based on factual findings and account maintenance. Regarding the adjustment of deficit to surplus, the Court dismissed the appeal, citing a previous decision where a similar issue was settled against the revenue. Case-Laws Income Tax Tue, 15 Feb 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=190095