https://www.taxtmi.com/caselaws?id=383979 The Court upheld the ITAT's decision in favor of the Assessee regarding the claim of deemed application under Section 11(1) Explanation 2 of the Income Tax Act, despite a delayed intimation. It also ruled in favor of the Assessee on the benefits under Sections 11 and 12 of the Act for business activities, depreciation exceeding purchase value, and utilization of an advance amount for charitable purposes. The appeals were dismissed based on the Court's findings on the presented issues. en-us Tue, 30 Jul 2019 00:00:00 +0530 Fri, 02 Aug 2019 10:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=383979 The Court upheld the ITAT's decision in favor of the Assessee regarding the claim of deemed application under Section 11(1) Explanation 2 of the Income Tax Act, despite a delayed intimation. It also ruled in favor of the Assessee on the benefits under Sections 11 and 12 of the Act for business activities, depreciation exceeding purchase value, and utilization of an advance amount for charitable purposes. The appeals were dismissed based on the Court's findings on the presented issues. Case-Laws Income Tax Tue, 30 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=383979