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2018 (6) TMI 161 - AT - Income TaxAdditions made u/s 11(3)(c) - accumulation of income / funds - whether the unutilized amount transferred from capital fund to income and expenditure account is deemed income - Held that:- As per section 11(3) assessee was to utilize the fund within the period of 5 years or or in the next year immediately following the expiry of the specified period - here the fund was utilized by the assessee for the specified purpose in the previous year immediately following the expiry of the year upto which the fund was accumulated, therefore assessee was entitled for claiming the deduction u/s 11 - Decided in favor of assessee.
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