Tribunal held that the assessee had purchased land and used accumulated amount for charitable and educational purposes. Section 11(1B) is not applicable where the assessee-society accumulated its income under section 11(2). (AY. 2008-09)
ACIT v. Scientific and Educational Advancement Society (2018) 196 TTJ 740/( 2019) 174 DTR 266 (Delhi)(Trib.)
S. 11 : Property held for charitable purposes–Education-Accumulation- Section 11(1B) is not applicable where the assessee-society accumulated its income under section 11(2). [S.12AA]