https://www.taxtmi.com/caselaws?id=212543 The Tribunal upheld the CIT(A)'s decision, restricting the disallowance of accumulation under Section 11(2) to amounts exceeding 15% of total receipts. The appeals were rejected, affirming the assessee's failure to comply with mandatory conditions for surplus fund accumulation. The delayed submission of Form No. 10 led to denial of the benefit of accumulation for future use, as required by Section 11(2) of the Income Tax Act. en-us Fri, 18 Nov 2011 00:00:00 +0530 Tue, 20 Nov 2012 16:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=212543 The Tribunal upheld the CIT(A)'s decision, restricting the disallowance of accumulation under Section 11(2) to amounts exceeding 15% of total receipts. The appeals were rejected, affirming the assessee's failure to comply with mandatory conditions for surplus fund accumulation. The delayed submission of Form No. 10 led to denial of the benefit of accumulation for future use, as required by Section 11(2) of the Income Tax Act. Case-Laws Income Tax Fri, 18 Nov 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=212543