DIRECTOR OF INCOME TAX Vs. MAMTA HEALTH INSTITUTE

JUDGEMENT

(1.) The Revenue is aggrieved by an order dated 22nd December, 2004 passed by the Income Tax Appellate Tribunal, Delhi Bench 'B' in ITA No.566/Del/2002 relevant for the assessment year 1997-98. The question which arose for consideration before the statutory authorities was whether the Assessee was entitled to the benefit of accumulation under Section 11(2) of the Income Tax Act, 1961.

(2.) The Assessee is a Society registered under Section 12-A of the Act. " Learned counsel for the Assessee has placed before us the objects of the Society which he says were before the Assessing Officer. The objects are taken on record. On a perusal of the objects of the Society, we find that these include following:-

(3.) In that decision, the contention of learned counsel for the Revenue was to the effect that the appellate authorities under the Act had failed to appreciate that in the prescribed form, the Assessee did not indicate the specific purpose for which the income was sought to be accumulated and, therefore, the statutory requirement had not been strictly complied with disentitling the Assessee from relief under Section 11(2) of the Act. This Court rejected the contention and held as follows:-