https://www.taxtmi.com/caselaws?id=20282 The court ruled in favor of the assessee, a charitable trust, in a case concerning the exercise of an option within the time allowed under the Explanation to section 11(1) of the Income-tax Act, 1961. Despite filing the return after the due date, the court held that the option was valid as it was exercised before the time allowed under section 139(4). The court's decision was influenced by the interpretation of relevant provisions and a precedent from the Supreme Court, ultimately leading to a judgment in favor of the assessee and against the Revenue. en-us Thu, 16 Sep 1993 00:00:00 +0530 Fri, 13 Nov 2009 10:18:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20282 The court ruled in favor of the assessee, a charitable trust, in a case concerning the exercise of an option within the time allowed under the Explanation to section 11(1) of the Income-tax Act, 1961. Despite filing the return after the due date, the court held that the option was valid as it was exercised before the time allowed under section 139(4). The court's decision was influenced by the interpretation of relevant provisions and a precedent from the Supreme Court, ultimately leading to a judgment in favor of the assessee and against the Revenue. Case-Laws Income Tax Thu, 16 Sep 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20282