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TMI Blog2019 (8) TMI 849X X X X Extracts X X X X X X X X Extracts X X X X ..... r the Respondent : No appearance COMMON JUDGMENT T.S.SIVAGNANAM, J. These appeals by the revenue filed under Section 260-A of the 'Income TaxAct, 1961' (hereinafter referred to as 'the Act') are directed against the order dated 19.05.2008 passed by the Income Tax Appellate Tribunal Madras 'C' Bench in ITA.Nos.1757/Mds/2007 & 1758/Mds/2007 for the assessment years 2000-01 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... .2006 by referring to Section 11(5) of the Act held that the assessee trust was required to dispose or convert the assets not conforming to the requirement of Section 11(5) of the Act into permissible investment within one year from the end of the financial year in which such bonus shares or other assets are received or 31.03.1992 whichever is later and also held that the income over expenditure d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... venue, on instructions, submitted that appeal was not preferred on account of low tax effect. It is not known as to how the appeal could not have been filed for two reasons namely the issue is a recurring issue, apart from that the Tribunal followed the decision in the case of CIT Vs. Nagi Reddy Charities reported in 241 ITR 431, which according to the revenue was distinguishable. In any event, th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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