https://www.taxtmi.com/caselaws?id=449014 The HC upheld the ITAT's decision, confirming that the Assessee, a public charitable trust, was entitled to the benefit under Section 11(1A) of the Income Tax Act. The court agreed that the property was held wholly for charitable purposes until its sale in the assessment year 2008-09, despite not being in the trust's possession for 12 years. Legal possession was transferred in 2008-09, and thus, no substantial question of law arose. The appeal was dismissed, allowing the Assessee to claim the benefit. en-us Wed, 31 Jan 2024 00:00:00 +0530 Sat, 03 Feb 2024 08:26:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=449014 The HC upheld the ITAT's decision, confirming that the Assessee, a public charitable trust, was entitled to the benefit under Section 11(1A) of the Income Tax Act. The court agreed that the property was held wholly for charitable purposes until its sale in the assessment year 2008-09, despite not being in the trust's possession for 12 years. Legal possession was transferred in 2008-09, and thus, no substantial question of law arose. The appeal was dismissed, allowing the Assessee to claim the benefit. Case-Laws Income Tax Wed, 31 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=449014