https://www.taxtmi.com/caselaws?id=21720 The Court held that the public charitable trust was eligible for exemption under section 11 of the Income-tax Act for the assessment year 1983-84, despite failing to convert investments into specified assets by the deadline under section 13(1)(d). The Court clarified that the amended provisions were to be applied from the assessment year commencing after April 1, 1983, and since the trust's previous year ended before that date, it was not in violation of the requirements. The trust was not to lose exemption for the relevant assessment year, and the decision favored the assessee with no costs awarded. en-us Mon, 29 Apr 1991 00:00:00 +0530 Fri, 27 Nov 2009 12:17:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21720 The Court held that the public charitable trust was eligible for exemption under section 11 of the Income-tax Act for the assessment year 1983-84, despite failing to convert investments into specified assets by the deadline under section 13(1)(d). The Court clarified that the amended provisions were to be applied from the assessment year commencing after April 1, 1983, and since the trust's previous year ended before that date, it was not in violation of the requirements. The trust was not to lose exemption for the relevant assessment year, and the decision favored the assessee with no costs awarded. Case-Laws Income Tax Mon, 29 Apr 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21720