Benefit u/s. 11 cannot be denied if trust files accumulation request of income till framing of assessment order

HIGH COURT OF GUJARAT Assistant Commissioner of Income-tax versus Stock Exchange Ahmedabad TAX APPEAL NOs. 207 TO 213 OF 2000† JULY 17, 2012 JUDGMENT Ms. Harsha Devani, J. In this group of appeals the appellant-revenue has challenged the common order dated 28th October, 1999 passed by the Income Tax Appellate Tribunal in M.A. No.87 to 93/Ahd/99. 2. The assessment years are 1989-90 to 1995-96 respectively. The respondent-assessee is a non-registered association of members. It appears that the assessee had claimed that its income was liable to be exempted under section 11 of t...