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Case Law Details

Case Name : Deputy Director of Income Tax Vs American School of Bombay Education Trust (ITAT Mumbai)
Related Assessment Year : 1998-99
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DCIT Vs American School of Bombay Education Trust (ITAT Mumbai)

Conclusion: Assessee-American School of Bombay Education Trust was eligible for income tax exemption u/s. 10(22) as assessee had reasonable cause and justified the expenses claimed in the Income and Expenditure statement filed along with the return of income.

Held:  AO noted that assessee-American School of Bombay Education Trust had not produced the books of account or documents to prove its

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