Held, that the assessee is  eligible to claim application of income towards acquisition of fixed assets. Though, section 11(6) was introduced in the statute with effect from April 1, 2015, it was clarificatory in nature and applicable for the year under consideration as well. The Assessing Officer, without verifying the submissions of the assessee, had held that no proper system was followed for utilisation of the accumulated income and that the capital expenditure could not be claimed as an application against accumulation under section 11(2). The finding of the Assessing Officer  is  not in accordance with the provisions of the Act. The matter is  set aside to the Assessing Officer to re-examine the assessee’s claim.(AY.2014-15, 2016-17, 2017-18)