https://www.taxtmi.com/caselaws?id=415602 The High Court upheld the Tribunal's decision in favor of the assessee on both issues. The appeal by the Income Tax Department challenging the reopening and reassessment of the assessee's income under Section 263 of the Income Tax Act was dismissed due to exceeding the limitation period. Additionally, the contributions to the building fund were deemed as corpus donations eligible for deduction under Section 11(1)(d) of the IT Act. The Court ruled against the Revenue, dismissing the appeal and not awarding any costs. en-us Thu, 11 Nov 2021 00:00:00 +0530 Wed, 23 Feb 2022 15:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=415602 The High Court upheld the Tribunal's decision in favor of the assessee on both issues. The appeal by the Income Tax Department challenging the reopening and reassessment of the assessee's income under Section 263 of the Income Tax Act was dismissed due to exceeding the limitation period. Additionally, the contributions to the building fund were deemed as corpus donations eligible for deduction under Section 11(1)(d) of the IT Act. The Court ruled against the Revenue, dismissing the appeal and not awarding any costs. Case-Laws Income Tax Thu, 11 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=415602