https://www.taxtmi.com/caselaws?id=411417 The Tribunal upheld the rejection of fixed deposits as application of income under Section 11(1)(a) of the Act for a Charitable Trust, emphasizing genuine application for charitable purposes. However, it directed reassessment of the claim for accumulation of funds under Section 11(2) due to valid submission of Form No.10 before the return filing deadline, despite the AO's initial refusal based on a circular and timing of submission. en-us Mon, 23 Aug 2021 00:00:00 +0530 Tue, 24 Aug 2021 12:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=411417 The Tribunal upheld the rejection of fixed deposits as application of income under Section 11(1)(a) of the Act for a Charitable Trust, emphasizing genuine application for charitable purposes. However, it directed reassessment of the claim for accumulation of funds under Section 11(2) due to valid submission of Form No.10 before the return filing deadline, despite the AO's initial refusal based on a circular and timing of submission. Case-Laws Income Tax Mon, 23 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=411417