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2016 (1) TMI 123 - AT - Income TaxAccumulation of income u/s 11(1)(a) - Held that:- A perusal of the computation of total income done by the AO vide para 8 of the asst. order shows that there was net surplus of ₹ 51,52,825/- before the income being applied for charitable purpose. After applying the said income to the capital expenditure of ₹ 100,04,167 lakhs there remains no income. Therefore, the question of accumulated income for the future years does not arise. The issue in appeal is purely academic in nature does not require any adjudication. Hence, the appeal filed by the assessee society is dismissed. - Decided against assessee.
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