https://www.taxtmi.com/caselaws?id=249054 Interest earned on fixed deposits made from earmarked Government funds used for a statutory public purpose was treated as retaining the character of the underlying funds, so it was excluded from taxable income for section 11 computation. Accumulation of income under section 11(2) depended on filing Form No. 10 within the prescribed time, but where the assessee was not given an opportunity to comply, the matter should be reconsidered after allowing the form to be furnished. The income computation was modified accordingly, and the accumulation claim was sent back for fresh examination. en-us Wed, 22 Jan 2014 00:00:00 +0530 Sat, 06 May 2017 16:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=249054 Interest earned on fixed deposits made from earmarked Government funds used for a statutory public purpose was treated as retaining the character of the underlying funds, so it was excluded from taxable income for section 11 computation. Accumulation of income under section 11(2) depended on filing Form No. 10 within the prescribed time, but where the assessee was not given an opportunity to comply, the matter should be reconsidered after allowing the form to be furnished. The income computation was modified accordingly, and the accumulation claim was sent back for fresh examination. Case-Laws Income Tax Wed, 22 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=249054