https://www.taxtmi.com/caselaws?id=1657 The High Court held in favor of the Assessee regarding the accumulation of unspent income under Section 11(2) of the Income Tax Act, 1961. The Court clarified that specifying each object for accumulation was not necessary as long as they aligned with the trust's objects. However, the Court ruled in favor of the Revenue regarding the classification of a sum received for a national convention, treating it as income under Section 2(24)(iia) of the Act due to lack of clarification on its nature. The appeal was disposed of accordingly. en-us Thu, 30 Aug 2007 00:00:00 +0530 Wed, 12 Nov 2008 10:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=1657 The High Court held in favor of the Assessee regarding the accumulation of unspent income under Section 11(2) of the Income Tax Act, 1961. The Court clarified that specifying each object for accumulation was not necessary as long as they aligned with the trust's objects. However, the Court ruled in favor of the Revenue regarding the classification of a sum received for a national convention, treating it as income under Section 2(24)(iia) of the Act due to lack of clarification on its nature. The appeal was disposed of accordingly. Case-Laws Income Tax Thu, 30 Aug 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=1657