https://www.taxtmi.com/caselaws?id=21454 HC held that accumulation under section 11(2) requires specification of concrete, itemised purposes within the trust's objects and cannot be justified by referring generally to "all objects" of the trust. Plurality of purposes is permissible, but each must be precisely identified for the statutory accumulation period. The Tribunal erred in upholding the assessment that allowed accumulation for all objects without verifying whether any specific purposes had been stated, thereby misapplying section 11(2). HC set aside the Tribunal's order and remanded the matter, directing the Tribunal to permit the assessee-trust to produce resolutions or other evidence of specific purposes and to reconsider the claim for exemption accordingly. en-us Mon, 22 Jul 1991 00:00:00 +0530 Mon, 08 Dec 2025 12:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21454 HC held that accumulation under section 11(2) requires specification of concrete, itemised purposes within the trust's objects and cannot be justified by referring generally to "all objects" of the trust. Plurality of purposes is permissible, but each must be precisely identified for the statutory accumulation period. The Tribunal erred in upholding the assessment that allowed accumulation for all objects without verifying whether any specific purposes had been stated, thereby misapplying section 11(2). HC set aside the Tribunal's order and remanded the matter, directing the Tribunal to permit the assessee-trust to produce resolutions or other evidence of specific purposes and to reconsider the claim for exemption accordingly. Case-Laws Income Tax Mon, 22 Jul 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21454