https://www.taxtmi.com/caselaws?id=384535 The tribunal upheld the assessment of unutilized accumulated income under Section 11(3) of the Income Tax Act for the assessee trust, adding the amount to its total income for the relevant assessment year. The request for an extension of time for utilization of the unutilized amount was denied due to non-compliance with Section 11(2). The tribunal ruled that income assessed under Section 11(3) cannot be accumulated under Section 11(2), leading to the dismissal of the appeals and confirmation of the assessment of the unutilized amount as income without granting any benefit of accumulation. en-us Fri, 26 Jul 2019 00:00:00 +0530 Wed, 14 Aug 2019 10:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=384535 The tribunal upheld the assessment of unutilized accumulated income under Section 11(3) of the Income Tax Act for the assessee trust, adding the amount to its total income for the relevant assessment year. The request for an extension of time for utilization of the unutilized amount was denied due to non-compliance with Section 11(2). The tribunal ruled that income assessed under Section 11(3) cannot be accumulated under Section 11(2), leading to the dismissal of the appeals and confirmation of the assessment of the unutilized amount as income without granting any benefit of accumulation. Case-Laws Income Tax Fri, 26 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384535