1981 (2) TMI 117 - AT - Income Tax

Summary

The Revenue appealed against AAC's decision granting exemption to a charitable institution for sums set apart for charitable purposes. The ITO denied the claim citing violation of r. 17, but AAC allowed it based on precedents. ITAT Calcutta upheld AAC's decision, dismissing Revenue's appeal. Compliance with r. 17 terms was not necessary as returns were submitted under s. 148.