2000 (11) TMI 10 - SCH - Income Tax

Introduction of s.11(4A) on 1/4/84 which introduced conditions in the application of sub-sections (1), (2), (3) and (3A) of s. 11, - Tribunal has not applied its mind to these conditions and given findings of fact as to whether or not they are satisfied. Nor has the HC given due consideration to this aspect, To be able to decide whether the assessee is entitled to the benefit of the exemption u/s 11, it is necessary for the ITAT to determine whether it satisfies the requirements of s. 11(4A)

Summary

The Supreme Court judgment involved assessment years 1984-85 and 1985-86. Section 11(4A) of the Income-tax Act introduced conditions for assessing exemptions under section 11. The Tribunal and High Court did not properly consider these conditions, so the case was sent back to the Income-tax Appellate Tribunal for reconsideration. The appeals were allowed with no costs.