https://www.taxtmi.com/caselaws?id=269046 The ITAT Chennai dismissed the assessee's appeals for the assessment years 2008-09 and 2009-10 due to non-compliance with statutory requirements under section 11(2) of the Income Tax Act. The court emphasized the necessity of specifying the purpose and period for income accumulation as mandated by law, supporting the lower authorities' decisions to disallow the claimed amounts based on lack of compliance with investment conditions and failure to fulfill charitable purposes as required by the Act. en-us Wed, 23 Sep 2015 00:00:00 +0530 Mon, 07 Dec 2015 10:19:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=269046 The ITAT Chennai dismissed the assessee's appeals for the assessment years 2008-09 and 2009-10 due to non-compliance with statutory requirements under section 11(2) of the Income Tax Act. The court emphasized the necessity of specifying the purpose and period for income accumulation as mandated by law, supporting the lower authorities' decisions to disallow the claimed amounts based on lack of compliance with investment conditions and failure to fulfill charitable purposes as required by the Act. Case-Laws Income Tax Wed, 23 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=269046