Section 11 Exemption Restored as Section 13 Violation Not Established: Telangana HC

Advertisement A.P. Vulnerability Reduction Fund Trust Vs ADIT (Telangana High Court) The Telangana High Court allowed the appeal filed under Section 260A of the Income Tax Act, 1961, challenging the Income Tax Appellate Tribunal’s order dated 23.07.2012, which had reversed the Commissioner of Income Tax (Appeals)’ decision and denied the appellant exemption under Section 11 of the Act. The appellant, A.P. Vulnerability Reduction Fund Trust, was formed by the Government of Andhra Pradesh under the Indian Trust Act, 1882 on 27.11.1997. It was established to protect vulnerable coa...