2023 (3) TMI 607 - AT - Income Tax

Deduction u/s 11(1) - benefit of accumulation u/s 11 - HELD THAT:- The right person in right manner and shall not disallow the eligible deductions on mere technicalities. The Revenue Authorities ought to have followed the ratio laid down by the Hon’ble Delhi High Court in the case of Pawan Kumar Agarwal [2014 (5) TMI 449 - DELHI HIGH COURT] and should have been allowed the benefit of accumulation u/s 11 Sub Section 2 of the Act to the assessee.

We allow the assessee’s Grounds of appeal and direct the authorities to allow the benefit of accumulation u/s 11 sub Clause 2 of the Act to the assessee. Appeal of the assessee is allowed.