https://www.taxtmi.com/caselaws?id=55711 The Tribunal partly allowed the appeals, upholding the denial of exemption under section 10(23) due to non-compliance. However, it recognized the merit in the assessee's claim for exemption under section 11, contingent on meeting conditions. The Tribunal instructed the Assessing Officer to recalculate taxable income per sections 11, 12, and 13, and to reassess interest levies based on the revised income, referencing the Gujarat High Court decision in CIT v. Bharat Machinery & Hardware Mart. en-us Wed, 22 Dec 1999 00:00:00 +0530 Mon, 29 Nov 2010 15:53:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55711 The Tribunal partly allowed the appeals, upholding the denial of exemption under section 10(23) due to non-compliance. However, it recognized the merit in the assessee's claim for exemption under section 11, contingent on meeting conditions. The Tribunal instructed the Assessing Officer to recalculate taxable income per sections 11, 12, and 13, and to reassess interest levies based on the revised income, referencing the Gujarat High Court decision in CIT v. Bharat Machinery & Hardware Mart. Case-Laws Income Tax Wed, 22 Dec 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55711