HC remanded matter as ITAT failed to examine fact that whether investment in gold bullion violate Sec. 11(5)

INCOME TAX : Where assessee educational charitable trust purchased a gold bullion and contended that as per proviso (iia) to section 13(1)(d) it could hold such gold for a period of one year from end of previous year in which same was acquired, thus, there was no violation of section 11(5), since Tribunal did not dealt with said contention of assessee and passed an order holding such purchase to be in violation of section 11(5), said order was to be set aside and matter was to be remanded

from www.taxmann.com Latest Case Laws https://ift.tt/3niwuVA