https://www.taxtmi.com/caselaws?id=764379 ITAT Chennai upheld CIT(A)'s decision granting exemption under section 11 to a trust for A.Y. 2007-08. Revenue challenged the exemption citing unaudited books for previous years 2005-06 and 2006-07 and incomplete opening balances. ITAT found assessee provided complete hostel building rent details and ledger extracts to CIT(A), with no adverse remarks from AO in remand report. Since trust activities remained unchanged and exemption was previously allowed for earlier years, ITAT dismissed revenue's appeal, confirming section 11 exemption for the trust. en-us Wed, 27 Nov 2024 00:00:00 +0530 Thu, 09 Jan 2025 07:46:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764379 ITAT Chennai upheld CIT(A)'s decision granting exemption under section 11 to a trust for A.Y. 2007-08. Revenue challenged the exemption citing unaudited books for previous years 2005-06 and 2006-07 and incomplete opening balances. ITAT found assessee provided complete hostel building rent details and ledger extracts to CIT(A), with no adverse remarks from AO in remand report. Since trust activities remained unchanged and exemption was previously allowed for earlier years, ITAT dismissed revenue's appeal, confirming section 11 exemption for the trust. Case-Laws Income Tax Wed, 27 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764379