https://www.taxtmi.com/caselaws?id=783799 The dominant issue was whether a charitable trust validly claimed accumulation of income under s.11(2) where Form No.10 stated a broadly worded "specific purpose" for future needs. The ITAT held that the trust's activities during the relevant AY were demonstrably in furtherance of its stated objects, satisfying the statutory conditions for exemption. It further held that the purpose mentioned in Form No.10, though general due to space constraints, remained consonant with the trust's major objects and was not shown by the Revenue to be outside the trust deed or otherwise non-compliant; nor was any misuse or breach of s.11(2) alleged. Consequently, accumulation was allowed and the disallowance was set aside. en-us Thu, 20 Nov 2025 00:00:00 +0530 Tue, 23 Dec 2025 07:59:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=783799 The dominant issue was whether a charitable trust validly claimed accumulation of income under s.11(2) where Form No.10 stated a broadly worded "specific purpose" for future needs. The ITAT held that the trust's activities during the relevant AY were demonstrably in furtherance of its stated objects, satisfying the statutory conditions for exemption. It further held that the purpose mentioned in Form No.10, though general due to space constraints, remained consonant with the trust's major objects and was not shown by the Revenue to be outside the trust deed or otherwise non-compliant; nor was any misuse or breach of s.11(2) alleged. Consequently, accumulation was allowed and the disallowance was set aside. Case-Laws Income Tax Thu, 20 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=783799