2021 (1) TMI 415

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ER : HONOURABLE MR. JUSTICE J. B. PARDIWALA ) 1 We have heard Ms. Mauna Bhatt, the learned Senior Standing Counsel appearing for the appellant. 2 This Tax Appeal at the instance of the Revenue is admitted on the following substantial questions of law: "(A) Whether on the facts and in the circumstances of the case and in law, the Appellate Tribunal was justified in allowing the benef....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....nt ? (C) Whether on the facts and circumstances of the case and in law, the Appellate Tribunal was justified in allowing the exemption under section 11 and 12 of the Act for remaining income which is not forfeited for exemption without appreciating that once the provisions of section 13(3) are applicable the assessee would not eligible for the benefit of exemption under section 11 and 12 ....