https://www.taxtmi.com/caselaws?id=254422 The Income Tax Appellate Tribunal (Tribunal) reversed the assessing officer and Commissioner of Income Tax (Appeals) decisions, allowing the accumulation of funds by a charitable institution under Section 11(2) for "further utilization" as specified in Form No. 10. The Tribunal found the purpose clear and aligned with the society's objectives, supported by Delhi High Court precedents. The respondent's explanation for utilizing funds for employee welfare was accepted, dismissing the revenue's appeal and affirming the right to accumulate funds for specific charitable purposes. en-us Wed, 03 Dec 2014 00:00:00 +0530 Wed, 13 May 2015 17:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=254422 The Income Tax Appellate Tribunal (Tribunal) reversed the assessing officer and Commissioner of Income Tax (Appeals) decisions, allowing the accumulation of funds by a charitable institution under Section 11(2) for "further utilization" as specified in Form No. 10. The Tribunal found the purpose clear and aligned with the society's objectives, supported by Delhi High Court precedents. The respondent's explanation for utilizing funds for employee welfare was accepted, dismissing the revenue's appeal and affirming the right to accumulate funds for specific charitable purposes. Case-Laws Income Tax Wed, 03 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=254422