https://www.taxtmi.com/caselaws?id=354122 The Tribunal upheld the CIT(A)'s decision, allowing the assessee trust's exemption under Sections 11 and 12 of the Income Tax Act, 1961. The trust's inability to conduct charitable activities and utilize accumulated funds was attributed to ongoing probate litigation, justifying the exemption. Additionally, there was no violation of Section 13(1)(d) as the trust had not acquired shares due to pending probate proceedings. The Tribunal's ruling aligned with prior decisions and the Delhi High Court's stance on related matters, ultimately dismissing the revenue's appeal. en-us Mon, 15 Jan 2018 00:00:00 +0530 Thu, 18 Jan 2018 08:25:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=354122 The Tribunal upheld the CIT(A)'s decision, allowing the assessee trust's exemption under Sections 11 and 12 of the Income Tax Act, 1961. The trust's inability to conduct charitable activities and utilize accumulated funds was attributed to ongoing probate litigation, justifying the exemption. Additionally, there was no violation of Section 13(1)(d) as the trust had not acquired shares due to pending probate proceedings. The Tribunal's ruling aligned with prior decisions and the Delhi High Court's stance on related matters, ultimately dismissing the revenue's appeal. Case-Laws Income Tax Mon, 15 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=354122