https://www.taxtmi.com/caselaws?id=23532 The judgment ruled in favor of the assessee on both issues raised by the Revenue under the Income-tax Act, 1961. Regarding the first issue on exemption under section 11(2), the High Court upheld the Tribunal's decision, emphasizing the absence of specific time limits for notice and investment as required by rule 17. On the second issue concerning section 13(4), the High Court agreed with the Tribunal's interpretation, clarifying the application of sections 11 and 13 and affirming the exemption withdrawal only on the interest earned from the concern. en-us Tue, 26 Sep 1989 00:00:00 +0530 Mon, 21 Dec 2009 15:44:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23532 The judgment ruled in favor of the assessee on both issues raised by the Revenue under the Income-tax Act, 1961. Regarding the first issue on exemption under section 11(2), the High Court upheld the Tribunal's decision, emphasizing the absence of specific time limits for notice and investment as required by rule 17. On the second issue concerning section 13(4), the High Court agreed with the Tribunal's interpretation, clarifying the application of sections 11 and 13 and affirming the exemption withdrawal only on the interest earned from the concern. Case-Laws Income Tax Tue, 26 Sep 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23532