AdvertisementDCIT(E) Vs Indian Broadcasting Foundation (ITAT Delhi)The Revenue appealed against the CIT(A)’s order dated 05.06.2018 concerning an assessment under Section 143(3) of the Income Tax Act, 1961. Before ITAT, the Revenue challenged the treatment of the BARC transactions as permissible under Section 11(5), relying on the Assessing Officer’s findings. 133/17-18 passed u/s 250 of the Income Tax Act, 1961 (hereinafter referred to as ‘the Act’) by Commissioner of Income Tax (Appeals)-40, New Delhi (hereinafter referred to as the First Appellate Authority in short ‘Ld. The assessee company was incorporated on 27.09.1999 under section 25 of the Companies Act, 1956 as a ‘not for profit company’. Application Money in Broadcast Audience Research Foundation permissible investment within the meaning of section I 1 (5)(vii) of the Income Tax Act.