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2009 (1) TMI 781 - HC - Income TaxWhether the learned Tribunal was justified in confirming the order of CIT(A) directing the AO to adopt the status of assessee as charitable trust in accordance with order of the Tribunal dt. 14th Sept., 2007 notwithstanding that the issue of registration under s. 12A is under challenge by the Revenue ? Held that:- The market committee having put its income to use in conformity with the provisions of the Act of 1961 for charitable purpose, it has to be treated as the application of the income for the charitable purpose in the relevant year. We are in complete agreement with the finding arrived at by the learned Tribunal that the contributions made by the assessee towards "charitable activities extending beyond its local jurisdiction but within India shall be entitled for benefit of exemption under s. 1l(1)(a) of the IT Act.
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