“Section 11(3)(i)”

Section References (mined)Section 11Section 11(3)(i)2 judgments

SHRI KRISHNANAGAR VAISHN vs. AMAJ,BHAVNAGARVS.THE ITO (EXEMPTION), BHAVNAGAR

In the result, appeal of the assessee is allowed

ITA 1096/AHD/2025[2023-24]Status: DisposedITAT Ahmedabad03 Jul 2025AY 2023-24

Bench: Shri T.R. Senthil Kumar & Shri Narendra Prasad Sinhaassessment Year: 2023-24

Section 11Section 11(2)Section 11(3)Section 11(3)(c)Section 11(3)(i)Section 11(3)(iii)Section 115BSection 143(1)

accumulated under Section 11(2) in FY 2016-17 2. 2.1 The ld. CIT-Appeals has overlooked the fact that the amendment in Section 11(3)(c) omitting the words “or in the year immediately following the expiry thereof” is substantive in nature which affects the legally conferred rights ... Shri Krishnanagar Vaishnvsamaj vs. ITO Page 3 of 8 2.2. The ld. CIT-A has wrongly held that the amendment in section 11(3)(c) made by Finance Act 2022 w.e.f.1-4-2023 in curtailing one year from the period of utilization of accumulation of income u/s.11(2) does not create

ASIA SOCIETY INDIA CENTRE,MUMBAI vs. INCOME TAX OFFICER, (EXEMPTION)-1(1), MUMBAI

ITA 3921/MUM/2024[2012-13]Status: DisposedITAT Mumbai22 Jan 2025AY 2012-13

Bench: SHRI OM PRAKASH KANT, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

For Appellant: Shri Rakesh JoshiFor Respondent: Shri Ram Krishn Kedia

Section 11(1)Section 11(2)Section 11(3)Section 12ASection 143(3)Section 25Section 250

total of Rs.54,27,105/- which was since reversed and spent in the financial year 2011-12 being alleged deemed Income under section 11(3) of the Income Tax Act. 4. The Ld. CIT(A) has erred in confirming the action of the Ld. Assessing Officer in invoking the provision ... section 11(3) of the Act in A.Y.2012-13, without considering the relevant provision of law.” 3. The Appellant is a not-for-profit company incorporated under Section 25 of the Companies Act and holding valid registration under Section 12A of the Act. For the Assessment Year 2012-2013, the Appellant