https://www.taxtmi.com/caselaws?id=390429 The Tribunal allowed both appeals, directing the Assessing Officer to grant exemption under Section 11 and 12 for AY 2011-12 and AY 2012-13. It held that the Rs. 150 Crores received from the Central Government should not be taxed as income, as it was considered capital in nature due to specific terms and conditions attached to the funds. en-us Tue, 24 Dec 2019 00:00:00 +0530 Thu, 02 Jan 2020 17:23:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=390429 The Tribunal allowed both appeals, directing the Assessing Officer to grant exemption under Section 11 and 12 for AY 2011-12 and AY 2012-13. It held that the Rs. 150 Crores received from the Central Government should not be taxed as income, as it was considered capital in nature due to specific terms and conditions attached to the funds. Case-Laws Income Tax Tue, 24 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=390429