https://www.taxtmi.com/caselaws?id=338901 The Tribunal dismissed the Revenue's appeals for the assessment years 2005-06, 2006-07, 2007-08, and 2008-09, while allowing the assessee's appeal for 2009-10. The Tribunal upheld the CIT(A)'s decisions granting exemption under Sections 11 & 12, rejecting the principle of mutuality, and invalidating the reopening of assessments without fresh material. The Tribunal also ruled that various incomes earned by the trust were not taxable as they did not constitute activities in the nature of trade, commerce, or business. en-us Wed, 30 Nov 2016 00:00:00 +0530 Tue, 14 Feb 2017 08:49:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=338901 The Tribunal dismissed the Revenue's appeals for the assessment years 2005-06, 2006-07, 2007-08, and 2008-09, while allowing the assessee's appeal for 2009-10. The Tribunal upheld the CIT(A)'s decisions granting exemption under Sections 11 & 12, rejecting the principle of mutuality, and invalidating the reopening of assessments without fresh material. The Tribunal also ruled that various incomes earned by the trust were not taxable as they did not constitute activities in the nature of trade, commerce, or business. Case-Laws Income Tax Wed, 30 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=338901