https://www.taxtmi.com/caselaws?id=771025 ITAT Kolkata dismissed revenue's appeal regarding charitable trust accumulation provisions. AO incorrectly calculated 15% accumulation under section 11(1)(a) using net receipts instead of gross receipts after deducting administrative expenses. ITAT upheld CIT(A)'s decision following Birla Janahit Trust precedent. On section 11(2) accumulation, ITAT confirmed CIT(A)'s ruling that specific purpose mentioned in Form 10 was sufficient without detailed implementation plan, distinguishing Singhania Charitable Trust case which supported assessee's position against blanket accumulation claims. en-us Fri, 21 Feb 2025 00:00:00 +0530 Tue, 20 May 2025 08:53:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771025 ITAT Kolkata dismissed revenue's appeal regarding charitable trust accumulation provisions. AO incorrectly calculated 15% accumulation under section 11(1)(a) using net receipts instead of gross receipts after deducting administrative expenses. ITAT upheld CIT(A)'s decision following Birla Janahit Trust precedent. On section 11(2) accumulation, ITAT confirmed CIT(A)'s ruling that specific purpose mentioned in Form 10 was sufficient without detailed implementation plan, distinguishing Singhania Charitable Trust case which supported assessee's position against blanket accumulation claims. Case-Laws Income Tax Fri, 21 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771025