Allowing the appeal of the assessee the Tribunal held that, investment in shares has been accepted as part of corpus over four decades. Interest income qualified for exemption. Assessing Officer has adopted a course permissible in law. Revision is held to be not valid. (AY. 2014-15)
Sir Ratan Tata Trust v. DCIT (2021) 188 ITD 151 (Mum.)(Trib.)
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Investment in shares has been accepted as part of corpus over four decades-Interest income qualified for exemption-Assessing Officer has adopted ab course permissible in law-Revision is held to be not valid. [S. 11(5), 13(1)(d), 13(2)(h), 13(3)]