Bombay H.C : Where income of assessee was exempt under section 11 and assessee was not carrying on any business, section 40(a)(ia) had no application

High Court Of Bombay Bombay Stock Exchange Ltd. Vs. Deputy Director Of Income-Tax (Exemption) (No. 2) Section : 11, 147 Assessment Year : 2004-05 J. Vazifdar And B.P. Colabawalla, JJ. Writ Petition No. 2468 Of 2011 June  12, 2014 JUDGMENT B.P. Colabawalla, J. – Rule. By consent of the parties, made returnable forthwith and heard…

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