https://www.taxtmi.com/caselaws?id=63868 The Tribunal held that the assessee society qualified for exemption under section 10(22) of the Income-tax Act as an educational institution, and the funds received were considered part of its corpus. The Tribunal disagreed with the Income-tax Officer's decision to tax the amount received. Additionally, the Tribunal found that the matter should be sent back to the Income-tax Officer to re-examine the allowability of accumulation under section 11(2) of the Act, as the previous assessment lacked a proper verification of the conditions for accumulation. The Tribunal's decision was upheld, and the reference application was rejected. en-us Tue, 26 May 1987 00:00:00 +0530 Wed, 02 Feb 2011 15:03:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63868 The Tribunal held that the assessee society qualified for exemption under section 10(22) of the Income-tax Act as an educational institution, and the funds received were considered part of its corpus. The Tribunal disagreed with the Income-tax Officer's decision to tax the amount received. Additionally, the Tribunal found that the matter should be sent back to the Income-tax Officer to re-examine the allowability of accumulation under section 11(2) of the Act, as the previous assessment lacked a proper verification of the conditions for accumulation. The Tribunal's decision was upheld, and the reference application was rejected. Case-Laws Income Tax Tue, 26 May 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63868