https://www.taxtmi.com/caselaws?id=403451 The Court dismissed the Tax Appeal, upholding the Tribunal's decisions on the interpretation of provisions related to commercial activities under Section 2(15) of the Income Tax Act, eligibility for benefits under Sections 11(1)(a) and 11(2), treatment of addition to fixed assets, deletion of General Development Expenditure Fund, deemed application of income against future income, claim of exemptions pending Special Leave Petition (SLP) and appeal, and reliance on previous decisions for allowing exemptions. The Court found the Tribunal's decisions aligned with established precedents, leading to the dismissal of the appeal. en-us Mon, 18 Jan 2021 00:00:00 +0530 Tue, 02 Feb 2021 10:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403451 The Court dismissed the Tax Appeal, upholding the Tribunal's decisions on the interpretation of provisions related to commercial activities under Section 2(15) of the Income Tax Act, eligibility for benefits under Sections 11(1)(a) and 11(2), treatment of addition to fixed assets, deletion of General Development Expenditure Fund, deemed application of income against future income, claim of exemptions pending Special Leave Petition (SLP) and appeal, and reliance on previous decisions for allowing exemptions. The Court found the Tribunal's decisions aligned with established precedents, leading to the dismissal of the appeal. Case-Laws Income Tax Mon, 18 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403451