https://www.taxtmi.com/caselaws?id=277144 The Tribunal upheld the decision of the Commissioner of Income Tax (Appeals) in favor of the assessee, an educational institution, confirming their eligibility for exemption under sec.11 of the Income Tax Act. The Tribunal emphasized that the trust's lease rental advances were not considered investments but rather applications of funds for charitable purposes, concluding that there were no violations of sec.11 or sec.13. The Department's appeal was dismissed, affirming the assessee's entitlement to exemption under sec.11 for the relevant assessment year. en-us Fri, 11 Jan 2013 00:00:00 +0530 Tue, 27 Nov 2018 10:36:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=277144 The Tribunal upheld the decision of the Commissioner of Income Tax (Appeals) in favor of the assessee, an educational institution, confirming their eligibility for exemption under sec.11 of the Income Tax Act. The Tribunal emphasized that the trust's lease rental advances were not considered investments but rather applications of funds for charitable purposes, concluding that there were no violations of sec.11 or sec.13. The Department's appeal was dismissed, affirming the assessee's entitlement to exemption under sec.11 for the relevant assessment year. Case-Laws Income Tax Fri, 11 Jan 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=277144