https://www.taxtmi.com/caselaws?id=759581 Gujarat HC dismissed the revenue's appeal challenging ITAT's order that set aside Principal CIT's revision u/s 263. The Principal CIT had disallowed exemption u/s 11(1) for government grants received by a trust. ITAT found that Principal CIT failed to independently apply his mind and merely acted on AO's proposal. HC upheld ITAT's decision based on consistency principle, noting the trust had received similar grants in earlier years which were accepted by revenue for exemption. No substantial question of law arose from the tribunal's order. en-us Fri, 14 Jun 2024 00:00:00 +0530 Fri, 04 Oct 2024 08:19:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=759581 Gujarat HC dismissed the revenue's appeal challenging ITAT's order that set aside Principal CIT's revision u/s 263. The Principal CIT had disallowed exemption u/s 11(1) for government grants received by a trust. ITAT found that Principal CIT failed to independently apply his mind and merely acted on AO's proposal. HC upheld ITAT's decision based on consistency principle, noting the trust had received similar grants in earlier years which were accepted by revenue for exemption. No substantial question of law arose from the tribunal's order. Case-Laws Income Tax Fri, 14 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=759581