2003 (3) TMI 92

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....peal by the Revenue under section 260A of the Income-tax Act, 1961 (for short 'the Act'), is directed against the order dated July 22,2002, passed by the Income-tax Appellate Tribunal, Delhi Bench SMC 1, New Delhi, in I.T.A. No. 174/Delhi of 1996, pertaining to the assessment year 1992-93. The following questions, stated to be substantial questions of law, have been proposed in the appeal memo:....

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....nt previous year ending March 31, 1992, by means of a resolution, the assessee decided to accumulate its income for a period of ten years for fulfilment of the objects for which it had been created. Notice to that effect was given by filing the requisite statutory form, giving particulars of the income sought to be accumulated and invested in the specified securities. However, while completing the....

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....n given to the Assessing Officer in the prescribed format and further the said money had been invested in the specified securities. The Commissioner (Appeals), thus, held that the assessee was entitled to exemption under section 11(1)(b) of the Act. Being dissatisfied, the Revenue carried the matter in appeal to the Tribunal. The Tribunal has affirmed the view taken by the Commissioner (Appeals....