https://www.taxtmi.com/caselaws?id=442594 The Tribunal allowed the appeals for statistical purposes, setting aside the assessments for specific years and directing the Assessing Officer to re-examine the issues in accordance with legal precedents. The Tribunal determined that the assessee, a society engaged in public welfare activities, was eligible for exemption under sections 11 and 12 of the IT Act, as its activities did not constitute business income. Deductions were allowed for amounts claimed as an application of income, and the set-off of deficits from earlier years against current year income was permitted. The Tribunal also deemed the levy of interest under section 234D as unlawful and ordered its deletion. en-us Thu, 31 Aug 2023 00:00:00 +0530 Mon, 04 Sep 2023 12:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=442594 The Tribunal allowed the appeals for statistical purposes, setting aside the assessments for specific years and directing the Assessing Officer to re-examine the issues in accordance with legal precedents. The Tribunal determined that the assessee, a society engaged in public welfare activities, was eligible for exemption under sections 11 and 12 of the IT Act, as its activities did not constitute business income. Deductions were allowed for amounts claimed as an application of income, and the set-off of deficits from earlier years against current year income was permitted. The Tribunal also deemed the levy of interest under section 234D as unlawful and ordered its deletion. Case-Laws Income Tax Thu, 31 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=442594