https://www.taxtmi.com/caselaws?id=390373 The Tribunal dismissed the Revenue's appeals, upholding the CIT(A)'s order granting the assessee exemptions under Sections 11 and 12 of the Income Tax Act. It was determined that the assessee's activities did not fall under the proviso to Section 2(15) and were considered charitable. Guidelines were provided for the treatment of grants, calculation of income, and accumulation of income, ensuring compliance with statutory provisions. The decision was influenced by the Hon'ble Gujarat High Court's ruling in a similar case, supporting the assessee's eligibility for exemptions. en-us Wed, 18 Dec 2019 00:00:00 +0530 Mon, 30 Dec 2019 17:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=390373 The Tribunal dismissed the Revenue's appeals, upholding the CIT(A)'s order granting the assessee exemptions under Sections 11 and 12 of the Income Tax Act. It was determined that the assessee's activities did not fall under the proviso to Section 2(15) and were considered charitable. Guidelines were provided for the treatment of grants, calculation of income, and accumulation of income, ensuring compliance with statutory provisions. The decision was influenced by the Hon'ble Gujarat High Court's ruling in a similar case, supporting the assessee's eligibility for exemptions. Case-Laws Income Tax Wed, 18 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=390373