https://www.taxtmi.com/highlights?id=55042 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 en-us Wed, 07 Oct 2020 11:32:54 +0530 Wed, 07 Oct 2020 11:32:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=55042 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 Highlights Income Tax Wed, 07 Oct 2020 11:32:54 +0530 https://www.taxtmi.com/highlights?id=55042