2014 (7) TMI 1160 - SCH - Income Tax

Withdrawing the status of Charitable Institution given to the appellant-assessee under Section 12AA(1)(b)(i) of the Act - Decision against the assessee confirmed by the Tribunal and the High Court - The Tribunal has reached a categorical conclusion that the assessee-Jammu Development Authority cannot be regarded as an institution or trust which may have been set up to achieve the objects enumerated under Section 2 of the Act particularly in view of the addition of first and second proviso made by the Finance Act, 2008 w.e.f. 01.04.2009 to Section 12 AA of the Act Apex Court after hearing the matter, dismissed the appeal since the apex court did not find any reason to entertain this petition.

Summary

The Supreme Court of India dismissed the Special Leave Petition filed by Anil R. Dave against Vikramajit Sen. The petition was not entertained. Citation: 2014 (7) TMI 1160 - SC Order.