https://www.taxtmi.com/manuals?id=1225 Where accumulated income is applied to non charitable purposes, ceases to be invested in permitted modes, is not utilised within the prescribed period, or is credited to specified registered entities, it is deemed the trust's income in the year of such event. The assessing officer may, on application and where circumstances beyond control prevent intended use, permit application for other purposes consistent with the trust's objects, but not by payment or credit to certain registered trusts or specified institutions; dissolution of entities holding permitted deposits permits transfer to registered trusts or specified funds. en-us Mon, 28 Sep 2015 10:36:00 +0530 Tue, 23 Apr 2024 16:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=1225 Where accumulated income is applied to non charitable purposes, ceases to be invested in permitted modes, is not utilised within the prescribed period, or is credited to specified registered entities, it is deemed the trust's income in the year of such event. The assessing officer may, on application and where circumstances beyond control prevent intended use, permit application for other purposes consistent with the trust's objects, but not by payment or credit to certain registered trusts or specified institutions; dissolution of entities holding permitted deposits permits transfer to registered trusts or specified funds. Manuals Income Tax Mon, 28 Sep 2015 10:36:00 +0530 https://www.taxtmi.com/manuals?id=1225