Case Law Details
Case Name : CIT Vs Gokula Education Foundation (Karnataka High Court)
Appeal Number : ITA No.300/2015
Date of Judgement/Order : 02/11/2016
Related Assessment Year :
Courts :
All High Courts Karnataka High Court
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CIT Vs Gokula Education Foundation (Karnataka High Court)
Facts-
Assessee claim an amount of INR 93,46,716 under section 11(2) by filing Form No. 10. In Form No. 10, assessee mentioned the object as ‘towards the object of the Trust’. Assessee filed revised Form No. 10 briefly specifying the object which was accepted by the Commissioner (Appeals) during the course of hearing.
Revenue contended that unless there is a specific purpose mentioned in Form No. 10, the language for ‘general purpose’ would not permit the assessee to claim the benefit under section 11(2).
Conclusion-
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