https://www.taxtmi.com/caselaws?id=382006 The Tribunal ruled in favor of the Association of Persons, holding that the proviso to Section 2(15) of the Income-tax Act, 1961 did not apply to the assessee. Consequently, the assessee was entitled to the benefits of Section 11, and the denial of exemption under Section 11 by the Assessing Officer was overturned. The Tribunal directed the Assessing Officer to allow the exemption under Section 11 for the relevant assessment years (2013-14 and 2014-15), thereby allowing the assessee's appeals. en-us Mon, 17 Jun 2019 00:00:00 +0530 Sun, 23 Jun 2019 17:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=382006 The Tribunal ruled in favor of the Association of Persons, holding that the proviso to Section 2(15) of the Income-tax Act, 1961 did not apply to the assessee. Consequently, the assessee was entitled to the benefits of Section 11, and the denial of exemption under Section 11 by the Assessing Officer was overturned. The Tribunal directed the Assessing Officer to allow the exemption under Section 11 for the relevant assessment years (2013-14 and 2014-15), thereby allowing the assessee's appeals. Case-Laws Income Tax Mon, 17 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=382006