https://www.taxtmi.com/caselaws?id=358139 The appellant, an urban improvement trust, sought exemption under section 11 of the Act, which was initially denied by the AO due to pending registration under section 12A. However, the High Court supported the appellant's claim, deeming the trust's income non-taxable under section 10(20) following the granted registration under section 12AA. The Tribunal ruled in favor of the appellant on all grounds, including the addition of profit on land sale and disallowance of depreciation, ultimately allowing the appeal and establishing the appellant's eligibility for tax benefits under the Income Tax Act. en-us Wed, 28 Mar 2018 00:00:00 +0530 Thu, 05 Apr 2018 10:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=358139 The appellant, an urban improvement trust, sought exemption under section 11 of the Act, which was initially denied by the AO due to pending registration under section 12A. However, the High Court supported the appellant's claim, deeming the trust's income non-taxable under section 10(20) following the granted registration under section 12AA. The Tribunal ruled in favor of the appellant on all grounds, including the addition of profit on land sale and disallowance of depreciation, ultimately allowing the appeal and establishing the appellant's eligibility for tax benefits under the Income Tax Act. Case-Laws Income Tax Wed, 28 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=358139