https://www.taxtmi.com/caselaws?id=400581 The Appellate Tribunal allowed the appeal for statistical purposes, directing the Assessing Officer to reconsider the taxability of the surplus amount in the subsequent assessment year, emphasizing the correct application of relevant provisions. The Tribunal set aside the CIT(Appeals) decision and remanded the issue for fresh consideration, providing the assessee an opportunity to present its case regarding the utilization of the surplus amount for constructing a hostel building. en-us Mon, 26 Oct 2020 00:00:00 +0530 Wed, 11 Nov 2020 11:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400581 The Appellate Tribunal allowed the appeal for statistical purposes, directing the Assessing Officer to reconsider the taxability of the surplus amount in the subsequent assessment year, emphasizing the correct application of relevant provisions. The Tribunal set aside the CIT(Appeals) decision and remanded the issue for fresh consideration, providing the assessee an opportunity to present its case regarding the utilization of the surplus amount for constructing a hostel building. Case-Laws Income Tax Mon, 26 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400581