https://www.taxtmi.com/caselaws?id=388675 The Tribunal upheld the CIT(A)'s decisions, confirming that Jamnagar Area Development Authority's activities qualified as charitable under Section 2(15) of the Income Tax Act. JADA was entitled to exemptions under Section 11, including benefits for accumulation of income. Specific project grants were not considered as income but as capital receipts. Detailed guidelines were provided for the treatment of income accumulation, infrastructure fund receipts, and capital expenditure. The appeals by the Revenue for various assessment years were dismissed, affirming the CIT(A)'s orders. en-us Fri, 15 Nov 2019 00:00:00 +0530 Wed, 20 Nov 2019 12:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=388675 The Tribunal upheld the CIT(A)'s decisions, confirming that Jamnagar Area Development Authority's activities qualified as charitable under Section 2(15) of the Income Tax Act. JADA was entitled to exemptions under Section 11, including benefits for accumulation of income. Specific project grants were not considered as income but as capital receipts. Detailed guidelines were provided for the treatment of income accumulation, infrastructure fund receipts, and capital expenditure. The appeals by the Revenue for various assessment years were dismissed, affirming the CIT(A)'s orders. Case-Laws Income Tax Fri, 15 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=388675