https://www.taxtmi.com/caselaws?id=416621 The Tribunal upheld the CIT(A)'s decision, denying the assessee exemption under Section 11 of the Income Tax Act, treating corpus fund receipts as taxable income, and validating adjustments made under Section 143(1). The Tribunal also rejected the assessee's claim for retrospective benefits under the proviso to Section 12A(2) due to the nature of the pending assessment proceedings. en-us Fri, 10 Dec 2021 00:00:00 +0530 Mon, 03 Jan 2022 08:27:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416621 The Tribunal upheld the CIT(A)'s decision, denying the assessee exemption under Section 11 of the Income Tax Act, treating corpus fund receipts as taxable income, and validating adjustments made under Section 143(1). The Tribunal also rejected the assessee's claim for retrospective benefits under the proviso to Section 12A(2) due to the nature of the pending assessment proceedings. Case-Laws Income Tax Fri, 10 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416621