M/S AYODHYA FAIZABAD DEVELOPEMENT AUTHORITY,FAIZABAD vs. DY. COMMISSIONER OF INCOME TAX (EXEMPTION), LUCKNOW

12A had been granted, the \ncomputation was to be done as per section 11 and if some amount was a corpus or part of \ncapital receipt, then the same could not be taken into the income and expenditure account. \nFurthermore, she submitted that where two or more decisions were there on a subject, the one \nthat was favorable

M/S AYODHYA FAIZABAD DEVELOPEMENT AUTHORITY,FAIZABAD vs. DY. COMMISSIONER OF INCOME TAX (EXEMPTION), LUCKNOW

12A had been granted, the \ncomputation was to be done as per section 11 and if some amount was a corpus or part of \ncapital receipt, then the same could not be taken into the income and expenditure account. \nFurthermore, she submitted that where two or more decisions were there on a subject, the one \nthat was favorable

ASSISTANT COMMISSIONER OF INCOME TAX (CENTRAL CIRCLE), BAREILLY vs. VARUNARJUN TRUST, LUCKNOW

In the result, both the appeals are dismissed

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

12A is given by Ld. Commissioner of Income Tax on the basis of which the AO gives exemption to the assessee. It is also to be appreciated that section 11 exemption is a yearly process whereby the AO has to grant exemption under section 11 while satisfying himself in the assessment proceedings for each assessment year separately. Your honour will

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, BAREILLY, BAREILLY vs. VARUNARJUN TRUST, LUCKNOW

In the result, both the appeals are dismissed

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

12A is given by Ld. Commissioner of Income Tax on the basis of which the AO gives exemption to the assessee. It is also to be appreciated that section 11 exemption is a yearly process whereby the AO has to grant exemption under section 11 while satisfying himself in the assessment proceedings for each assessment year separately. Your honour will