https://www.taxtmi.com/caselaws?id=436366 The High Court upheld the Tribunal's decision to allow the benefit of Section 11 and 12 for the Assessee-Corporation, finding its activities charitable and not in the nature of trade. The issues related to the addition of premium on land, depreciation allowance, set-off of deficits, and deemed rent were all set aside for re-examination by the Assessing Officer, with the High Court determining that no substantial legal questions arose from these matters. Ultimately, the appeal was disposed of in favor of the Assessee, with the Tribunal's judgments being upheld. en-us Tue, 03 Jan 2023 00:00:00 +0530 Mon, 10 Apr 2023 15:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=436366 The High Court upheld the Tribunal's decision to allow the benefit of Section 11 and 12 for the Assessee-Corporation, finding its activities charitable and not in the nature of trade. The issues related to the addition of premium on land, depreciation allowance, set-off of deficits, and deemed rent were all set aside for re-examination by the Assessing Officer, with the High Court determining that no substantial legal questions arose from these matters. Ultimately, the appeal was disposed of in favor of the Assessee, with the Tribunal's judgments being upheld. Case-Laws Income Tax Tue, 03 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=436366