https://www.taxtmi.com/caselaws?id=118030 The ITAT Delhi held that the assessee, a charitable trust, was entitled to accumulate income under section 11(2) for the assessment year 1996-97. Despite vague purposes initially mentioned, the subsequent detailed letter from the assessee specifying purposes met the requirement. The ITAT emphasized a liberal interpretation of the law, citing precedents, and noted that no specific resolution of the Board of Trustees was mandated for accumulation. Consequently, the ITAT overturned the decision of the CIT(A) and allowed the appeal, granting the benefit of accumulation of income to the assessee trust. en-us Fri, 18 Jun 2004 00:00:00 +0530 Wed, 27 Jun 2012 18:41:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=118030 The ITAT Delhi held that the assessee, a charitable trust, was entitled to accumulate income under section 11(2) for the assessment year 1996-97. Despite vague purposes initially mentioned, the subsequent detailed letter from the assessee specifying purposes met the requirement. The ITAT emphasized a liberal interpretation of the law, citing precedents, and noted that no specific resolution of the Board of Trustees was mandated for accumulation. Consequently, the ITAT overturned the decision of the CIT(A) and allowed the appeal, granting the benefit of accumulation of income to the assessee trust. Case-Laws Income Tax Fri, 18 Jun 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=118030