2020 (2) TMI 1323

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....A M BHATT For the Respondent : MR SN SOPARKAR, SR.ADVOCATE with MR G H VIRK ORAL JUDGMENT (PER : HONOURABLE MR.JUSTICE J.B.PARDIWALA) This Tax Appeal under Section 260A of the Income Tax Act, 1961, is at the instance of the Revenue and is directed against the order passed by the Income Tax Appellate Tribunal, 'C' Bench, Ahmedabad, dated 30th July 2019, in the ITA No.2991/Ahd/20....

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....led by the CIT ? (C) Whether on the facts and in the circumstances of the case, the Appellate Tribunal is justified in allowing the accumulation of 15% without appreciating the fact that once the provision of Section 2(15) r.w. Section 13(8) is applicable, the assessee forfeits all the exemptions under Sections 11 and 12 of the Act ? (D) Whether on the facts and in the circumstan....