https://www.taxtmi.com/highlights?id=74434 Taxability of unutilized accumulated funds u/s 11(2) as income u/s 11(3) - The CIT(A) upheld the Assessing Officer's decision, which was based on a Section 263 order from the DIT(E), regarding the taxability of these funds. However, the Tribunal, guided by a High Court order, restored the appeal to the CIT(A) for reconsideration, specifically within the framework of Sections 11(2) and 11(3) of the Act, after giving the assessee a fair opportunity to be heard. - AT en-us Mon, 29 Jan 2024 07:52:16 +0530 Mon, 29 Jan 2024 07:52:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=74434 Taxability of unutilized accumulated funds u/s 11(2) as income u/s 11(3) - The CIT(A) upheld the Assessing Officer's decision, which was based on a Section 263 order from the DIT(E), regarding the taxability of these funds. However, the Tribunal, guided by a High Court order, restored the appeal to the CIT(A) for reconsideration, specifically within the framework of Sections 11(2) and 11(3) of the Act, after giving the assessee a fair opportunity to be heard. - AT Highlights Income Tax Mon, 29 Jan 2024 07:52:16 +0530 https://www.taxtmi.com/highlights?id=74434