https://www.taxtmi.com/caselaws?id=448781 ITAT Mumbai allowed the appeal of a public charitable trust registered under section 12A. The trust sought to accumulate Rs. 30 lakhs under section 11(2) for Basic Education, Health Care and Nutrition to Underprivileged children. AO denied the accumulation claiming the purpose was not specific but merely reiterated broad trust objectives. ITAT held that the trust fulfilled section 11(2) conditions by filing Form 10 with purposes consonant with trust objects. Citing Hotel and Restaurant Association case, ITAT ruled that accumulation purposes must align with trust objects and plurality of purposes is permissible. Since the stated purposes matched the trust's charitable objectives for street children, accumulation was allowed. TDS credit issue was remanded to AO for fresh adjudication. en-us Tue, 12 Dec 2023 00:00:00 +0530 Mon, 29 Jan 2024 11:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=448781 ITAT Mumbai allowed the appeal of a public charitable trust registered under section 12A. The trust sought to accumulate Rs. 30 lakhs under section 11(2) for Basic Education, Health Care and Nutrition to Underprivileged children. AO denied the accumulation claiming the purpose was not specific but merely reiterated broad trust objectives. ITAT held that the trust fulfilled section 11(2) conditions by filing Form 10 with purposes consonant with trust objects. Citing Hotel and Restaurant Association case, ITAT ruled that accumulation purposes must align with trust objects and plurality of purposes is permissible. Since the stated purposes matched the trust's charitable objectives for street children, accumulation was allowed. TDS credit issue was remanded to AO for fresh adjudication. Case-Laws Income Tax Tue, 12 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=448781