2018 (7) TMI 1702 - SCH - Income Tax

Denial of exemption u/s 11 - since the application of income was more than 85%, in terms of Section 11 (1) of the Income Tax Act, 1961, the question of denying the exemption to the Assessee does not arise? - Held that - Special Leave Petition is dismissed both on the ground of delay as well as on the ground that the tax effect is low, leaving the question of law open.

Summary

The Supreme Court of India dismissed the Special Leave Petition due to delay and low tax effect, leaving the question of law open. Pending applications, if any, were disposed of.