https://www.taxtmi.com/caselaws?id=361334 The Tribunal upheld the CIT(A)'s decision, ruling that the utilization of accumulated funds by the trust in the immediate next financial year was compliant with Section 11(3)(c) of the Income Tax Act. Consequently, the addition of Rs. 45,00,000/- as deemed income was correctly deleted by the CIT(A), and the Revenue's appeal was dismissed. en-us Thu, 31 May 2018 00:00:00 +0530 Tue, 05 Jun 2018 18:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=361334 The Tribunal upheld the CIT(A)'s decision, ruling that the utilization of accumulated funds by the trust in the immediate next financial year was compliant with Section 11(3)(c) of the Income Tax Act. Consequently, the addition of Rs. 45,00,000/- as deemed income was correctly deleted by the CIT(A), and the Revenue's appeal was dismissed. Case-Laws Income Tax Thu, 31 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=361334