https://www.taxtmi.com/caselaws?id=263990 The Tribunal upheld the re-opening of assessment u/s. 147 of the Act for a public charitable institution, citing non-compliance with sec. 11(2)(b) based on a prima facie reason, following the decision in Rajesh Jhaveri Stock Brokers Ltd. The Tribunal allowed bank fixed deposits as part of income accumulated u/s 11(2), rejecting the AO's restriction to current year's income. Interest issues under sec. 234A and 234D were deemed consequential. The appeal was allowed, setting aside the disallowance of income accumulation and affirming the assessment re-opening, after a comprehensive legal analysis. en-us Thu, 14 May 2015 00:00:00 +0530 Mon, 17 Aug 2015 12:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=263990 The Tribunal upheld the re-opening of assessment u/s. 147 of the Act for a public charitable institution, citing non-compliance with sec. 11(2)(b) based on a prima facie reason, following the decision in Rajesh Jhaveri Stock Brokers Ltd. The Tribunal allowed bank fixed deposits as part of income accumulated u/s 11(2), rejecting the AO's restriction to current year's income. Interest issues under sec. 234A and 234D were deemed consequential. The appeal was allowed, setting aside the disallowance of income accumulation and affirming the assessment re-opening, after a comprehensive legal analysis. Case-Laws Income Tax Thu, 14 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=263990