https://www.taxtmi.com/caselaws?id=180124 Section 11(2) permits accumulation of income where the amount is earmarked for a specified charitable purpose and the prescribed form is properly completed. In this discussion, development works stated in Form No. 10 were treated as sufficiently specific because they corresponded to the statutory development functions of a statutory body under the Punjab Agriculture Produce Marketing Act, 1961. The accumulation was therefore regarded as compliant with the requirement of specifying the purpose of accumulation, and a general description in Form No. 10 was not, by itself, fatal where the purpose was clear in substance. en-us Fri, 28 Jan 2011 00:00:00 +0530 Thu, 17 Mar 2016 11:12:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180124 Section 11(2) permits accumulation of income where the amount is earmarked for a specified charitable purpose and the prescribed form is properly completed. In this discussion, development works stated in Form No. 10 were treated as sufficiently specific because they corresponded to the statutory development functions of a statutory body under the Punjab Agriculture Produce Marketing Act, 1961. The accumulation was therefore regarded as compliant with the requirement of specifying the purpose of accumulation, and a general description in Form No. 10 was not, by itself, fatal where the purpose was clear in substance. Case-Laws Income Tax Fri, 28 Jan 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180124