https://www.taxtmi.com/caselaws?id=396228 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decision to grant the assessee exemption under sections 11 and 12 of the Income Tax Act. It also upheld the accumulation of income under section 11(2), ruling that the activities of letting out a gallery for a price qualified as charitable. The Tribunal emphasized that the assessee's actions were not profit-driven, referencing both the assessee's past assessments and a Delhi High Court judgment. en-us Wed, 26 Feb 2020 00:00:00 +0530 Fri, 26 Jun 2020 09:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396228 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decision to grant the assessee exemption under sections 11 and 12 of the Income Tax Act. It also upheld the accumulation of income under section 11(2), ruling that the activities of letting out a gallery for a price qualified as charitable. The Tribunal emphasized that the assessee's actions were not profit-driven, referencing both the assessee's past assessments and a Delhi High Court judgment. Case-Laws Income Tax Wed, 26 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396228