https://www.taxtmi.com/caselaws?id=12463 The retrospective extension of time to disinvest until 31 March 1993, introduced by the Finance (No. 2) Act, 1991 and the Finance Act, 1992, applied from 1 April 1983. For the assessment years covered, a trust could continue holding investments outside the modes specified under section 11(5) so long as it complied with the extended deadline and thereafter retained only permitted investments. On that basis, mere retention of the investments during the assessment year did not amount to contravention of section 13(1)(d) of the Income-tax Act, 1961, and the issue was decided in favour of the assessee. en-us Mon, 12 Nov 2001 00:00:00 +0530 Thu, 25 Feb 2010 15:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12463 The retrospective extension of time to disinvest until 31 March 1993, introduced by the Finance (No. 2) Act, 1991 and the Finance Act, 1992, applied from 1 April 1983. For the assessment years covered, a trust could continue holding investments outside the modes specified under section 11(5) so long as it complied with the extended deadline and thereafter retained only permitted investments. On that basis, mere retention of the investments during the assessment year did not amount to contravention of section 13(1)(d) of the Income-tax Act, 1961, and the issue was decided in favour of the assessee. Case-Laws Income Tax Mon, 12 Nov 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12463