https://www.taxtmi.com/caselaws?id=775428 The ITAT Pune allowed the appeal of the trust by deleting the addition of unspent accumulated funds for FY 2016-17 in A.Y. 2023-24. The tribunal held that the trust was entitled to a period of five years, or the immediately following year, to utilize the accumulated funds for charitable purposes. Since the utilization deadline extended to 31.03.2024 (A.Y. 2024-25), the addition made by CPC and confirmed by CIT(E) for A.Y. 2023-24 was erroneous. The CIT(E)'s order was set aside, and the disallowance of the claim of unspent accumulation was reversed. en-us Tue, 22 Jul 2025 00:00:00 +0530 Wed, 23 Jul 2025 13:08:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775428 The ITAT Pune allowed the appeal of the trust by deleting the addition of unspent accumulated funds for FY 2016-17 in A.Y. 2023-24. The tribunal held that the trust was entitled to a period of five years, or the immediately following year, to utilize the accumulated funds for charitable purposes. Since the utilization deadline extended to 31.03.2024 (A.Y. 2024-25), the addition made by CPC and confirmed by CIT(E) for A.Y. 2023-24 was erroneous. The CIT(E)'s order was set aside, and the disallowance of the claim of unspent accumulation was reversed. Case-Laws Income Tax Tue, 22 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775428