https://www.taxtmi.com/caselaws?id=27872 The Madras HC noted that entitlement to exemption under section 11(2) of the Income-tax Act was governed by an earlier binding decision and followed that precedent, holding the assessee entitled to the exemption. It also treated the challenge to paragraphs 2 and 4 of Form No. 10 of the Income-tax Rules, which prescribe the time-limit, as covered by the same prior ruling and held the time-limit not invalid. The reference was answered in favour of the assessees on the questions decided, while the remaining question was left unanswered because it did not arise from the Tribunal's order. The stated principle is that a reference is answered consistently with binding precedent and only on questions properly arising from the order under reference. en-us Wed, 24 Jan 1979 00:00:00 +0530 Tue, 16 Feb 2010 15:29:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27872 The Madras HC noted that entitlement to exemption under section 11(2) of the Income-tax Act was governed by an earlier binding decision and followed that precedent, holding the assessee entitled to the exemption. It also treated the challenge to paragraphs 2 and 4 of Form No. 10 of the Income-tax Rules, which prescribe the time-limit, as covered by the same prior ruling and held the time-limit not invalid. The reference was answered in favour of the assessees on the questions decided, while the remaining question was left unanswered because it did not arise from the Tribunal's order. The stated principle is that a reference is answered consistently with binding precedent and only on questions properly arising from the order under reference. Case-Laws Income Tax Wed, 24 Jan 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27872