https://www.taxtmi.com/caselaws?id=403294 The Tribunal allowed the appellant's appeal, directing the Assessing Officer to consider the revised audit report and resolution filed by the appellant, thereby granting the consequential benefits under section 11 of the Income Tax Act. The appellant successfully challenged the disallowance of accumulated amount under section 11(2) and the denial of exemption under sections 11 and 12 due to the commercial nature of activities. The Tribunal emphasized the appellant's eligibility for exemption under section 11 and instructed the Assessing Officer to acknowledge the appellant's compliance with the necessary conditions for accumulation under section 11(2). en-us Fri, 22 Jan 2021 00:00:00 +0530 Sat, 23 Jan 2021 11:39:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403294 The Tribunal allowed the appellant's appeal, directing the Assessing Officer to consider the revised audit report and resolution filed by the appellant, thereby granting the consequential benefits under section 11 of the Income Tax Act. The appellant successfully challenged the disallowance of accumulated amount under section 11(2) and the denial of exemption under sections 11 and 12 due to the commercial nature of activities. The Tribunal emphasized the appellant's eligibility for exemption under section 11 and instructed the Assessing Officer to acknowledge the appellant's compliance with the necessary conditions for accumulation under section 11(2). Case-Laws Income Tax Fri, 22 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403294