2021 (1) TMI 886

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.... ORDER PER SUCHITRA KAMBLE, JM This appeal is filed by the assessee against order dated 01/09/2017 passed by CIT(A)-40, Delhi for assessment year 2014-15. 2. The grounds of appeal are as under:- "1. That Ld.CIT(A) has erred in law and on facts in disallowing a sum of Rs. 52,00,000/- being amount accumulated and set apart u/s 11(2) of Income Tax Act, 1961. 2. The appel....

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....the assessment was completed vide order dated 23.12.2016 wherein the Assessing Officer observed that the activities of the assessee are no longer charitable in view of proviso to Section 2(15). The Assessing Officer passed order u/s 143(3) dated 23.12.2016 received by the assessee on 23.12.2016. The Assessing Officer concluded that the activities of the Assessee fall under the category of "any oth....

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.... before the CIT(A). The CIT(A) partly allowed the appeal of the assessee. 5. The Ld. AR submitted that the present appeal is filed for the limited issue that the conditions required for accumulation u/s 11(2) was satisfied by the assessee and the same should have been allowed by the CIT(A) when the CIT(A) has categorically held in the order that the assessee is eligible Exemption u/s 11 and the....

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....al may be allowed 6. The Ld. DR relied upon the order of the Assessing Officer and the order of the CIT(A). 7. We have heard both the parties and perused the material available on record. The assessee has filed revised audit report in Form NO. 10B as well as the Resolution dated 22/5/2017 during the assessment proceedings itself. Merely filing Form No. 10 cannot be held as afterthought. Thus....