https://www.taxtmi.com/caselaws?id=443364 The court dismissed the appeal, affirming the respondent's eligibility for exemptions under Sections 11 and 12 of the Income Tax Act, as it is involved in advancing objects of general public utility. The court upheld the Appellate Tribunal's reliance on existing High Court judgments pending appeal and allowed the carry forward of capital expenditure, despite the absence of explicit statutory provisions. The pending SLP before the SC does not impact the current applicability of the exemptions. The decision aligns with principles established by the SC and existing HC judgments. en-us Mon, 11 Sep 2023 00:00:00 +0530 Fri, 01 Mar 2024 14:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=443364 The court dismissed the appeal, affirming the respondent's eligibility for exemptions under Sections 11 and 12 of the Income Tax Act, as it is involved in advancing objects of general public utility. The court upheld the Appellate Tribunal's reliance on existing High Court judgments pending appeal and allowed the carry forward of capital expenditure, despite the absence of explicit statutory provisions. The pending SLP before the SC does not impact the current applicability of the exemptions. The decision aligns with principles established by the SC and existing HC judgments. Case-Laws Income Tax Mon, 11 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=443364