https://www.taxtmi.com/caselaws?id=443806 The Appellate Tribunal upheld the decision of the Lower Court, dismissing the Department's appeal. It concluded that the trust did not violate Section 11(5) of the Income Tax Act and rightly allowed exemptions under Sections 11(1)(a) and 11(2). The Tribunal applied the principle of res judicata due to consistent treatment in previous years. The Department's appeal was dismissed, and the trust's status as a "Trust" was confirmed for tax purposes, with interest under Section 234B upheld. en-us Tue, 26 Sep 2023 00:00:00 +0530 Tue, 03 Oct 2023 08:39:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=443806 The Appellate Tribunal upheld the decision of the Lower Court, dismissing the Department's appeal. It concluded that the trust did not violate Section 11(5) of the Income Tax Act and rightly allowed exemptions under Sections 11(1)(a) and 11(2). The Tribunal applied the principle of res judicata due to consistent treatment in previous years. The Department's appeal was dismissed, and the trust's status as a "Trust" was confirmed for tax purposes, with interest under Section 234B upheld. Case-Laws Income Tax Tue, 26 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=443806