Dismissing the appeal of the revenue the Court held that ; the Tribunal was justified in negating the findings of the Commissioner (Appeals) as well as the Assessing Officer denying the benefits of sections 11 and 12 ofthe by invoking the proviso to section 2(15) read with section 13(8) of the Act. ( TA No. 18 of 2020 dt 17 -2 -2020) ( AY.2009-10)
CIT (E) v. Gujarat Maritime Board (NO. 2) (2020) 428 ITR 175 (Guj) (HC)
S. 12AA : Procedure for registration –Trust or institution-Gujarat Maritime Board — Entitled to exemption [ S.2(15, 11, 12 , 260A