https://www.taxtmi.com/caselaws?id=23395 Section 11 of the Income-tax Act, 1961 allows a charitable trust an unconditional exemption for income applied to charitable or religious purposes in India and for accumulation up to 25% of income or Rs. 10,000, whichever is higher. The further investment requirement in Government securities under section 11(2) applies only to the excess accumulation beyond that exempt limit, provided the prescribed notice is given. On this interpretation, the phrase "the money so accumulated" refers only to the additional accumulation under section 11(2), not the entire surplus income, so investment of only the excess amount is sufficient. en-us Wed, 16 Nov 1988 00:00:00 +0530 Fri, 18 Dec 2009 18:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23395 Section 11 of the Income-tax Act, 1961 allows a charitable trust an unconditional exemption for income applied to charitable or religious purposes in India and for accumulation up to 25% of income or Rs. 10,000, whichever is higher. The further investment requirement in Government securities under section 11(2) applies only to the excess accumulation beyond that exempt limit, provided the prescribed notice is given. On this interpretation, the phrase "the money so accumulated" refers only to the additional accumulation under section 11(2), not the entire surplus income, so investment of only the excess amount is sufficient. Case-Laws Income Tax Wed, 16 Nov 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23395