1993 (12) TMI 21

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... under section 10(22) of the Income-tax Act, 1961, in respect of its income for the assessment year 1974-75. The Income-tax Officer rejected the claim of the assessee. In appeal, the Appellate Assistant Commissioner reversed the order of the Income-tax Officer holding that the assessee was entitled to exemption as claimed. The Tribunal relying upon its previous decision also held that the assessee .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... anji Parekh [1993] 201 ITR 939. After considering various contentions raised by the parties, the court has held as under (at page 953) : " Now, adverting to the case before us, it is clear that the trust in question though primarily founded to establish a school or college for imparting education to Zoroastrain students, it has not been successful in establishing any school or college. Admittedl .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X