TMI Blog2011 (9) TMI 576X X X X Extracts X X X X X X X X Extracts X X X X ..... ed it cannot be treated as income and income tax levied. - Decided in favor of the assessee - IT Appeal No. 443 of 2009 - - - Dated:- 5-9-2011 - N. Kumar and Ravi Malimath, JJ. K.V. Aravind and M.V. Seshachala for the Appellant. A. Shankar and Sri M. Lava for the Respondent. JUDGMENT 1. It is not disputed that the assessee received a sum of Rs. 20,000 and Rs. 21 lakhs contribut ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t to a review and examine the judgment of the Apex Court as per the observations of the Hon'ble High Court? (ii) Whether the Appellate Authorities were correct in holding that the assessee was entitled to claim exemption, from tax by application of section 11 of the Act in view of the registration granted u/s. 12A of the Act by ignoring the finding recorded by the Assessing Officer that no char ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ncome tax levied. The only course is to seek for cancellation of the registration granted under section 12A of the Act. 4. In that view of the matter we do not see any merit in this appeal. Thus the substantial questions of law is answered in favour of the assessee and against the revenue. 5. As we are dismissing the appeal on merits, the application for condonation of delay is also dismissed, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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