https://www.taxtmi.com/caselaws?id=432744 The Court dismissed all questions raised by the Revenue in the appeals, emphasizing the specific circumstances and legal provisions governing each issue. The Court found that the Assessee did not claim automatic exemption under Section 12A, rejected the need for a valid resolution of the Assessee Trust for accumulating funds, declined to question the acceptance of the Assessee's declaration regarding accounts, considered the amendment to Section 2(15) as prospective, upheld the accrual basis of accounting, clarified the taxability of interest on funds, and upheld the change in the classification of charitable activities. en-us Thu, 05 Jan 2023 00:00:00 +0530 Thu, 12 Jan 2023 08:03:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432744 The Court dismissed all questions raised by the Revenue in the appeals, emphasizing the specific circumstances and legal provisions governing each issue. The Court found that the Assessee did not claim automatic exemption under Section 12A, rejected the need for a valid resolution of the Assessee Trust for accumulating funds, declined to question the acceptance of the Assessee's declaration regarding accounts, considered the amendment to Section 2(15) as prospective, upheld the accrual basis of accounting, clarified the taxability of interest on funds, and upheld the change in the classification of charitable activities. Case-Laws Income Tax Thu, 05 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432744