https://www.taxtmi.com/caselaws?id=64037 The Tribunal held that the Charitable Trust was entitled to accumulate income under section 11(2) of the Income-tax Act as the specified purposes for accumulation were specific and concrete. The Tribunal directed the Assessing Officer to dispose of the application for approval of the accumulated amount within a reasonable time. The Tribunal endorsed the CIT(A)'s decision regarding alleged violations of section 13(1)(c) and dismissed the revenue's appeal. The matter involved separate judgments by the Accountant Member and the Judicial Member, ultimately concluding in favor of the Trust's entitlement to accumulate funds under section 11(2). en-us Thu, 28 Jun 2001 00:00:00 +0530 Thu, 03 Feb 2011 13:05:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64037 The Tribunal held that the Charitable Trust was entitled to accumulate income under section 11(2) of the Income-tax Act as the specified purposes for accumulation were specific and concrete. The Tribunal directed the Assessing Officer to dispose of the application for approval of the accumulated amount within a reasonable time. The Tribunal endorsed the CIT(A)'s decision regarding alleged violations of section 13(1)(c) and dismissed the revenue's appeal. The matter involved separate judgments by the Accountant Member and the Judicial Member, ultimately concluding in favor of the Trust's entitlement to accumulate funds under section 11(2). Case-Laws Income Tax Thu, 28 Jun 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64037