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2021 (10) TMI 1332 - AT - Income TaxExemption u/s 11 - claim denied on the ground that proviso to section 2(15) of the Act applies to the assessee - HELD THAT:- After hearing both the parties and perusing the material on record including the consolidated order of the co-ordinate Bench of the Tribunal [2020 (12) TMI 20 - ITAT MUMBAI] A.Y. 2012-13 and [2020 (12) TMI 20 - ITAT MUMBAI] A.Y. 2014-15 we find that the issue of exemption under section 11 of the Act has been decided by the co-ordinate Bench of the Tribunal in favour of the assessee by directing the AO to allow the exemption u/s 11 to the assessee.
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