https://www.taxtmi.com/caselaws?id=27233 Accumulated trust income was treated as exempt under section 4(3)(i) of the Indian Income-tax Act, 1922 where the trust deed required the unspent surplus to be applied to specified charitable objects. The deed directed the income to be carried forward for a dharamshala for pilgrims and for a Sanskrit chatuspati with scholarships, teachers' salaries, and student boarding and lodging, all of which were charitable in nature. Because the accumulation was for those stated purposes, immediate spending was not required for exemption, and there was no basis to assume the trustees would act contrary to the deed. en-us Tue, 21 Aug 1984 00:00:00 +0530 Thu, 11 Feb 2010 16:13:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27233 Accumulated trust income was treated as exempt under section 4(3)(i) of the Indian Income-tax Act, 1922 where the trust deed required the unspent surplus to be applied to specified charitable objects. The deed directed the income to be carried forward for a dharamshala for pilgrims and for a Sanskrit chatuspati with scholarships, teachers' salaries, and student boarding and lodging, all of which were charitable in nature. Because the accumulation was for those stated purposes, immediate spending was not required for exemption, and there was no basis to assume the trustees would act contrary to the deed. Case-Laws Income Tax Tue, 21 Aug 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27233