https://www.taxtmi.com/caselaws?id=190507 The Tribunal upheld the tax authorities' decision that the assessee is not entitled to accumulate or deduct deemed income under section 11(3) of the IT Act. The appeal by the assessee was dismissed as the Tribunal emphasized that only real income, not deemed income, is eligible for accumulation and deduction under sections 11(1)(a) and 11(2). The legislative intent was clarified to allow accumulation solely from real income, excluding deemed income, which may have been utilized for non-charitable purposes. en-us Thu, 12 Apr 2001 00:00:00 +0530 Fri, 17 Feb 2017 16:39:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=190507 The Tribunal upheld the tax authorities' decision that the assessee is not entitled to accumulate or deduct deemed income under section 11(3) of the IT Act. The appeal by the assessee was dismissed as the Tribunal emphasized that only real income, not deemed income, is eligible for accumulation and deduction under sections 11(1)(a) and 11(2). The legislative intent was clarified to allow accumulation solely from real income, excluding deemed income, which may have been utilized for non-charitable purposes. Case-Laws Income Tax Thu, 12 Apr 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=190507