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2013 (8) TMI 736 - AT - Income TaxDenial of accumulation under section 11(2) of the Act – assessee Society is running educational institute - alleged that assessee did not specify the purpose of accumulation in Form 10B - Held that:- Assessee has accumulated income for the specific purpose and for which the funds have been used accordingly in subsequent years - assessee has applied the accumulation of funds as specified which were in accordance with the object of the trust – disallowance set aside – Following decision of Additional Commissioner of Income-tax, Range - 1, Aligarh Versus Jamia Urdu [2012 (10) TMI 255 - ITAT, AGRA] - Decided against Revenue. Disallowance under section 40A(3) - Held that:- As CIT(A) has deleted the addition holding that the income of the Institution is exempt under section 10(22) the disallowance under section 40A(3) became academic - Following decision of Addl. Commissioner of Income Tax (A. O.) Range-1, Aligarh. Versus Jamia Urdu, [2012 (10) TMI 255 - ITAT, AGRA] - Decided against Revenue.
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