1980 (4) TMI 146 - AT - Income Tax

Summary

The appeals relate to asst. yrs. 1973-74 and 1974-75 of an AOP with power-looms. The assessee's exemption claims under s. 12A(a) and s. 11 were rejected by the ITO, but upheld by the AAC. The Tribunal upheld the AAC's decision, stating the objects were similar to a previous case. The appeals were dismissed.