1988 (11) TMI 45 - HC - Income Tax

Summary

The High Court of Punjab and Haryana ruled in favor of the assessee, a charitable trust, for assessment years 1974-75 and 1975-76, based on a previous decision in CIT v. Guryani Brij Balabh Kaur Trust [1980] 125 ITR 381. The assessee was entitled to exemption under section 11 of the Income-tax Act, 1961. The court left the parties to bear their own costs.