2018 (1) TMI 1726 - HC - Income Tax

Exemption u/s 11 - Charitable activity - Whether benefit of Section 11 should be granted to the assessee in view of the proviso to Section 2(15) of the Income Tax Act, 1961? - HELD THAT - As decided in favour of the assessee in view this Court to which one of us was a party in The Tribune Trust Vs Commissioner of Income Tax and another and in Commissioner of Income Tax (Exemption) Vs Improvement Trust, Moga 2017 (1) TMI 53 - PUNJAB AND HARYANA HIGH COURT We are informed that the revenue has challenged the judgement before the Supreme Court and that leave has been granted in those cases. The appeal is accordingly disposed of in terms of the aforesaid judgement.

Summary

The Punjab and Haryana High Court ruled in favor of the assessee based on a previous Division Bench judgment. The revenue has appealed to the Supreme Court, and the appeal is disposed of in line with the earlier judgment. (Citation: 2018 (1) TMI 1726 - PUNJAB AND HARYANA HIGH COURT)