6th Year Utilisation of Sec 11 Accumulation Valid; CPC Adjustment Deleted: ITAT Pune

Navalmal Firodia Memorial Hospital Trust Vs ITO (ITAT Pune) Section 11 Accumulation Utilised in 6th Year Valid – Amendment Prospective – CPC Adjustment U/s 11(3) 115BBI Deleted by ITAT Pune The ITAT Pune allowed the appeal of a charitable hospital trust & deleted the CPC adjustment of ₹6 lakh made u/s 11(3) r.w.s. 115BBI, holding that accumulation made in AY 2017-18 could be validly utilised within five years plus one additional year as per the law prevailing at the time of accumulation. The Tribunal observed that the trust had already utilised the accumulated amount before 31-03-202...