https://www.taxtmi.com/caselaws?id=366235 The Tribunal ruled in favor of the assessee, allowing the exemption under Section 11 of the Income Tax Act, 1961, as the nature of the organization's activities remained charitable despite the amendment to Section 2(15). The Tribunal also exempted the subscription and entrance fees from tax under the principle of mutuality. However, the interest earned on fixed deposits was deemed taxable, following the Supreme Court precedent. The disallowance of capital expenditure was set aside, directing the Assessing Officer to reevaluate the issue. en-us Tue, 31 Jul 2018 00:00:00 +0530 Fri, 31 Aug 2018 08:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=366235 The Tribunal ruled in favor of the assessee, allowing the exemption under Section 11 of the Income Tax Act, 1961, as the nature of the organization's activities remained charitable despite the amendment to Section 2(15). The Tribunal also exempted the subscription and entrance fees from tax under the principle of mutuality. However, the interest earned on fixed deposits was deemed taxable, following the Supreme Court precedent. The disallowance of capital expenditure was set aside, directing the Assessing Officer to reevaluate the issue. Case-Laws Income Tax Tue, 31 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=366235