https://www.taxtmi.com/caselaws?id=267581 The High Court clarified that compliance with section 11(2) of the Income-tax Act requires specifying the purpose for accumulation within a trust's objects clause. The court emphasized that the purpose must align with the trust's objects and cannot exceed them. It was ruled that the assessee in this case met the compliance standards by adequately indicating the purpose for accumulation. Additionally, the court held that information must be furnished to the assessing authority before the assessment is completed, rejecting objections raised by the Revenue and ruling in favor of the assessee. en-us Tue, 07 Apr 2015 00:00:00 +0530 Mon, 09 Nov 2015 16:29:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=267581 The High Court clarified that compliance with section 11(2) of the Income-tax Act requires specifying the purpose for accumulation within a trust's objects clause. The court emphasized that the purpose must align with the trust's objects and cannot exceed them. It was ruled that the assessee in this case met the compliance standards by adequately indicating the purpose for accumulation. Additionally, the court held that information must be furnished to the assessing authority before the assessment is completed, rejecting objections raised by the Revenue and ruling in favor of the assessee. Case-Laws Income Tax Tue, 07 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=267581