AO's findings on unspent funds u/s 11 set aside. Capital fund use for assets, WIP & current assets excluded from Sec 11(2)/(5). Remanded for fresh adjudication.

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....Assessing Officer's findings regarding accumulated unspent funds u/s 11 were set aside due to lack of audited financial statements and return of income for relevant year. Capital fund utilization for fixed assets, work in progress, and current assets excluded from Section 11(2) read with Section 11(5) investment requirements. Issue remanded to Assessing Officer for fresh adjudication as per law. Appeal allowed for statistical purposes by Income Tax Appellate Tribunal.....