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2001 (11) TMI 26 - MADRAS HIGH COURTCharitable Purpose, Exemption - "Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was right in law in holding that there was no contravention of section 13(1)(d) of the Income-tax Act, 1961, for the assessment years 1985-86, 1986-87 and 1987-88 in view of the proviso (iia) to section 13(1)(d) extending the time for complying with the specified pattern of investment up to March 31, 1993?" - There was, no contravention of section 13(1)(d) of the Act by reason of the assessee having held the investments during the assessment year. We answer the question referred to us in favour of the assessee and against the Revenue.
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