https://www.taxtmi.com/caselaws?id=60227 The Tribunal condoned the delay in filing the departmental appeal, considering the unintentional delay and specific circumstances, ultimately admitting the appeal. However, regarding the rectification of the assessment order, the Tribunal upheld the original decision disallowing the benefit of exemption under section 11 of the IT Act due to a loan given without adequate security, reversing the AAC's decision to rectify. The cross objection by the assessee was dismissed as it did not raise valid grounds related to the appeal outcome. en-us Mon, 28 Dec 1987 00:00:00 +0530 Tue, 04 Jan 2011 13:10:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60227 The Tribunal condoned the delay in filing the departmental appeal, considering the unintentional delay and specific circumstances, ultimately admitting the appeal. However, regarding the rectification of the assessment order, the Tribunal upheld the original decision disallowing the benefit of exemption under section 11 of the IT Act due to a loan given without adequate security, reversing the AAC's decision to rectify. The cross objection by the assessee was dismissed as it did not raise valid grounds related to the appeal outcome. Case-Laws Income Tax Mon, 28 Dec 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60227