https://www.taxtmi.com/caselaws?id=758398 ITAT Mumbai dismissed revenue's appeal regarding disallowance of accumulation benefits under section 11(2) to a charitable trust. The trust, registered under section 12A since 1952 for education promotion, faced delays in school redevelopment due to Airport Authority NOC requirements. AO treated accumulated funds as income under section 11(3)(c), but CIT(A) deleted the addition of Rs. 2,05,47,846 noting the trust's pending application under section 11(3A). ITAT upheld CIT(A)'s decision, finding section 11(3)(c) inapplicable due to pending application and affirmed consideration of revised Form 10 for determining accumulated funds. en-us Tue, 10 Sep 2024 00:00:00 +0530 Fri, 13 Sep 2024 08:31:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=758398 ITAT Mumbai dismissed revenue's appeal regarding disallowance of accumulation benefits under section 11(2) to a charitable trust. The trust, registered under section 12A since 1952 for education promotion, faced delays in school redevelopment due to Airport Authority NOC requirements. AO treated accumulated funds as income under section 11(3)(c), but CIT(A) deleted the addition of Rs. 2,05,47,846 noting the trust's pending application under section 11(3A). ITAT upheld CIT(A)'s decision, finding section 11(3)(c) inapplicable due to pending application and affirmed consideration of revised Form 10 for determining accumulated funds. Case-Laws Income Tax Tue, 10 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=758398