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TMI Blog2021 (1) TMI 886X X X X Extracts X X X X X X X X Extracts X X X X ..... This appeal is filed by the assessee against order dated 01/09/2017 passed by CIT(A)-40, Delhi for assessment year 2014-15. 2. The grounds of appeal are as under:- "1. That Ld.CIT(A) has erred in law and on facts in disallowing a sum of Rs. 52,00,000/- being amount accumulated and set apart u/s 11(2) of Income Tax Act, 1961. 2. The appellant contends that the conditions required for accumu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... essing Officer observed that the activities of the assessee are no longer charitable in view of proviso to Section 2(15). The Assessing Officer passed order u/s 143(3) dated 23.12.2016 received by the assessee on 23.12.2016. The Assessing Officer concluded that the activities of the Assessee fall under the category of "any other object of General Public Utility" i.e. the last limb of sec. 2(15) de ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 5. The Ld. AR submitted that the present appeal is filed for the limited issue that the conditions required for accumulation u/s 11(2) was satisfied by the assessee and the same should have been allowed by the CIT(A) when the CIT(A) has categorically held in the order that the assessee is eligible Exemption u/s 11 and the Assessing Officer thereafter was directed to allow the same with all conseq ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cer and the order of the CIT(A). 7. We have heard both the parties and perused the material available on record. The assessee has filed revised audit report in Form NO. 10B as well as the Resolution dated 22/5/2017 during the assessment proceedings itself. Merely filing Form No. 10 cannot be held as afterthought. Thus, the CIT(A) though saying that the assessee is entitled for exemption u/s 11 wi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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