2018 (7) TMI 900 - SCH - Income Tax

Exemption u/s 11 & 12 denied - holding funds in non-specified modes - restoring back the matter to the file of CIT(E) for giving further time and opportunity to the assessee to convert the shares into specified assets within a specified period - withdrawing the notification and benefit u/s 10(23C) (vi) of the Act - Held that - The Special Leave Petition is dismissed on the ground of low tax effect.

Summary

The Supreme Court of India dismissed the Special Leave Petition due to low tax effect. Delay was condoned, and pending applications were disposed of accordingly.