DIRECTOR OF INCOME TAX Vs. SRI SATYANARAYANA TRUST

JUDGEMENT

(1.) IN compliance with the direction of the Court the Tribunal was stated the cases and referred the following common question of law :

(2.) LEARNED counsel for the Revenue has fairly submitted that the issue raised is covered against the Revenue by the decisions of the Court in CIT vs. Kumudam Endowments (2000) 164 CTR (Mad) 312 : (2002) 242 ITR 159 (Mad) and Director of IT (Exemptions) vs. Sir M. CT. Muthiah Chettiar Family Trust (2002) 257 ITR 287 (Mad), wherein this Court has held that there will be no contravention of S. 13(1)(d) of the IT Act in view of the extension of time for complying with the specified pattern of investment upto 31st March, 1993.