https://www.taxtmi.com/caselaws?id=344082 The High Court upheld the ITAT decision, allowing the corporation to claim exemption under section 11(1)(d) of the Income Tax Act, 1961, for the revenue grant received. The Court determined that the grant was designated for specific purposes outlined in the scheme to uplift marginalized groups. Emphasizing the detailed provisions for fund allocation and the program's objectives, the Court concluded that the grant met the exemption criteria under the relevant sections of the Act. Consequently, the Tax Appeal was dismissed. en-us Tue, 06 Jun 2017 00:00:00 +0530 Thu, 08 Jun 2017 05:58:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=344082 The High Court upheld the ITAT decision, allowing the corporation to claim exemption under section 11(1)(d) of the Income Tax Act, 1961, for the revenue grant received. The Court determined that the grant was designated for specific purposes outlined in the scheme to uplift marginalized groups. Emphasizing the detailed provisions for fund allocation and the program's objectives, the Court concluded that the grant met the exemption criteria under the relevant sections of the Act. Consequently, the Tax Appeal was dismissed. Case-Laws Income Tax Tue, 06 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=344082