https://www.taxtmi.com/caselaws?id=777743 ITAT (Delhi - AT) allowed the appeal, holding that a registered public charitable trust's accumulated funds retained in a current account with a public sector bank constituted a permissible mode of "investment" for purposes of section 11(2) and should qualify for exemption under section 11. The tribunal reversed the assessing officer and appellate order that denied exemption because the amount was not placed in modes specified under section 11(5), restoring exemption for the accumulated sum set aside for building construction. en-us Wed, 27 Aug 2025 00:00:00 +0530 Thu, 04 Sep 2025 08:40:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=777743 ITAT (Delhi - AT) allowed the appeal, holding that a registered public charitable trust's accumulated funds retained in a current account with a public sector bank constituted a permissible mode of "investment" for purposes of section 11(2) and should qualify for exemption under section 11. The tribunal reversed the assessing officer and appellate order that denied exemption because the amount was not placed in modes specified under section 11(5), restoring exemption for the accumulated sum set aside for building construction. Case-Laws Income Tax Wed, 27 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=777743