https://www.taxtmi.com/caselaws?id=789557 A defect in Form No. 10 was not fatal to exemption under section 11(2) where the purpose of accumulation was otherwise from the record. The tribunal noted that the assessment materials and trustees' resolution showed funds were set apart for hospital projects, modernization, and related charitable requirements, and no breach of section 11 or section 13(1)(d) was established. Applying substantial compliance, it held that the accumulated income claim remained valid. The disallowance was therefore unsustainable and the addition on account of accumulated income was deleted. en-us Fri, 20 Feb 2026 00:00:00 +0530 Fri, 10 Apr 2026 09:00:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=789557 A defect in Form No. 10 was not fatal to exemption under section 11(2) where the purpose of accumulation was otherwise from the record. The tribunal noted that the assessment materials and trustees' resolution showed funds were set apart for hospital projects, modernization, and related charitable requirements, and no breach of section 11 or section 13(1)(d) was established. Applying substantial compliance, it held that the accumulated income claim remained valid. The disallowance was therefore unsustainable and the addition on account of accumulated income was deleted. Case-Laws Income Tax Fri, 20 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=789557