2009 (1) TMI 895 - HC - Income Tax

Summary

The Delhi High Court allowed the Petitioner to withdraw funds from India Exposition Mart Ltd. and invest them as per Section 11(5) of the Income Tax Act, 1961. The Petitioner can reapply for exemption under Section 10 of the Act after compliance with Section 11(5), with the fresh application deemed to have been filed earlier. The impugned order was set aside, and the Petition was disposed of.