Exemption u/s 11 - Accumulation of income equal to 15% - The ...

Appellate Authority's Suggestion on 15% Income Accumulation Entitlement Could Negatively Impact Assessee's Concession and Benefits.

October 7, 2020

Case Laws Income Tax AT

Exemption u/s 11 - Accumulation of income equal to 15% - The method of computation of deficit to be truncated artificially 15% based on an entitlement (opposed to an obligation) as suggested by first appellate authority is totally devoid of any logic. - This would tantamount to application of concession conferred on assessee in a reverse manner and thus put the assessee in a worser position in the event of accelerated application of receipts for salutary purposes. - AT

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Exemption u/s 11 - Accumulation of income equal to 15% - The ...

Appellate Authority's Suggestion on 15% Income Accumulation Entitlement Could Negatively Impact Assessee's Concession and Benefits.

October 7, 2020

Case Laws Income Tax AT

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