https://www.taxtmi.com/caselaws?id=403437 The tribunal upheld the accumulation of income by a trust for specific charitable purposes, rejecting the Assessing Officer and CIT(A)'s denial. The trust's actions aligned with its main objectives, as specified in the trust deed, allowing for accumulation as per Form No.10. Emphasizing the trust's genuine commitment to charitable activities, the tribunal directed the Assessing Officer to delete the additions and grant the benefit of income accumulation under section 11(2) of the Income Tax Act, ultimately ruling in favor of the trust. en-us Wed, 20 Jan 2021 00:00:00 +0530 Fri, 29 Jan 2021 13:31:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403437 The tribunal upheld the accumulation of income by a trust for specific charitable purposes, rejecting the Assessing Officer and CIT(A)'s denial. The trust's actions aligned with its main objectives, as specified in the trust deed, allowing for accumulation as per Form No.10. Emphasizing the trust's genuine commitment to charitable activities, the tribunal directed the Assessing Officer to delete the additions and grant the benefit of income accumulation under section 11(2) of the Income Tax Act, ultimately ruling in favor of the trust. Case-Laws Income Tax Wed, 20 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403437