2009 (8) TMI 571

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..... ed by 1. ADARSH KUMAR GOEL J. - The Revenue has preferred this appeal under section 260A of the Income-tax Act, 1961, (in short, "the Act") against the order of the Income-tax Appellate Tribunal, Delhi Bench "E", New Delhi, in I. T. A. No. 300/De1/2007 for the assessment year 2003-04, proposing to raise the following questions of law: "Whether, on the facts and in the circumstances of the case, .....

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..... on the ground that the essessee accumulated profits without explanation However, the Commissioner of Income-tax (Appeals) accepted the plea of the assessee and held that  utilisation of accumulation was on the agenda of the governing body. The Tribunal upheld the said view relying upon the judgment of the Delhi High Court in Bharat Kalyan Pratisthan v. Director of Income-tax (Exemption) [20 .....

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