https://www.taxtmi.com/caselaws?id=757894 The ITAT Ahmedabad held that the assessee corporation's activities constituted advancement of general public utility for charitable purposes, making it eligible for exemption under section 11. Following SC precedent in ACIT vs. AUDA, the tribunal noted that while revenue appeals were dismissed for statutory corporations in earlier years, future assessments must apply the law as declared by SC. For assessment years 2016-17 and 2017-18, the matter was remanded to the AO for reconsideration in accordance with SC guidelines. Revenue's appeals were allowed for statistical purposes. en-us Wed, 14 Aug 2024 00:00:00 +0530 Tue, 03 Sep 2024 16:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=757894 The ITAT Ahmedabad held that the assessee corporation's activities constituted advancement of general public utility for charitable purposes, making it eligible for exemption under section 11. Following SC precedent in ACIT vs. AUDA, the tribunal noted that while revenue appeals were dismissed for statutory corporations in earlier years, future assessments must apply the law as declared by SC. For assessment years 2016-17 and 2017-18, the matter was remanded to the AO for reconsideration in accordance with SC guidelines. Revenue's appeals were allowed for statistical purposes. Case-Laws Income Tax Wed, 14 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=757894