2020 (1) TMI 565

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....pponent(s) No. 1   ORAL ORDER (PER : MS.HARSHA DEVANI) 1. By this appeal under section 260A of the Income Tax Act, 1961 (hereinafter referred to as "the Act"), the appellant Revenue has challenged the order dated 11.06.2019 made by the Income Tax Appellate Tribunal, Ahmedabad Bench 'B' in ITA No.2675/Ahd/2017 for assessment year 201415 by proposing the following three questions state....

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....case and in law, the Tribunal was justified in allowing the benefit of exemptions u/s.l1(2) of the Act of Rs. 4,50,00,000/without appreciating the fact that the assessee is covered by the provisions of section 2(15) r.w.s 13(8) of the Act?" 2. Heard Mrs. Mauna Bhatt, learned senior standing counsel for the appellant, who has reiterated the grounds set out in the memorandum of appeal. 3. It i....