https://www.taxtmi.com/caselaws?id=63296 The Tribunal allowed the appeal, overturning the CIT(A)'s decision and directing the AO to accept the claim for accumulation of income under s. 11(2) of the IT Act, 1961. The Tribunal found the assessee had met the necessary conditions by submitting Form No. 10 and later providing complete minutes of the board meeting with specific objects of accumulation. Dismissing the Revenue's concerns about the genuineness of the minutes, the Tribunal emphasized that signing minutes after meetings was common practice and ruled in favor of the assessee, deleting the additional income inclusion. en-us Wed, 23 Feb 2005 00:00:00 +0530 Wed, 18 Jul 2012 17:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63296 The Tribunal allowed the appeal, overturning the CIT(A)'s decision and directing the AO to accept the claim for accumulation of income under s. 11(2) of the IT Act, 1961. The Tribunal found the assessee had met the necessary conditions by submitting Form No. 10 and later providing complete minutes of the board meeting with specific objects of accumulation. Dismissing the Revenue's concerns about the genuineness of the minutes, the Tribunal emphasized that signing minutes after meetings was common practice and ruled in favor of the assessee, deleting the additional income inclusion. Case-Laws Income Tax Wed, 23 Feb 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63296