VELLORE INSTITUTE OF TECHNOLOGY,VELLORE vs. DCIT, CC IV(1), CHENNAI

Appeals of the Revenue are dismissed whereas that of assessee are partly allowed

Bench: Shri Abraham P. George & Shri Duvvuru Rl Reddy]

36,22,227 4. As mentioned at para 3 (vii) above, for denying the exemption claimed under Section 11 of the Act, ld. Assessing Officer had cited certain specific instances which, according to him, attracted the rigours of Section 13(1) (c) of the Act. These are listed hereunder:- (i) An agreement for purchase of 22.34 acres of land