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 of the Income-tax Act, 1961 by invoking the proviso to section 2(15) read with section 13(8) of the Act. (AY. 2009-10)
CIT(E) v. Gujarat Maritime Board (NO. 2) (2020) 428 ITR 175 (Guj.)(HC)
S. 12A : Registration-Trust or institution-Charitable purpose-Gujarat Maritime Board-Entitled to exemption. [S. 2(15), 11, 12, 12AA]