https://www.taxtmi.com/highlights?id=102579 Accumulated charitable income validly set aside under the pre-amendment section 11(2) regime remained available for application in the year immediately following the five-year accumulation period. The Finance Act 2022 omission of that additional utilisation year operated prospectively and did not curtail rights attached to accumulations made earlier. Accordingly, application in financial year 2022-23 of income accumulated in financial year 2016-17 was not deemed taxable income for assessment year 2023-24. Return-processing adjustments cannot disallow such a claim where eligibility depends on reconciling records and resolving debatable questions concerning statutory interpretation and the amendment's temporal operation. en-us Tue, 11 Aug 2026 09:35:58 +0530 Tue, 11 Aug 2026 09:35:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=102579 Accumulated charitable income validly set aside under the pre-amendment section 11(2) regime remained available for application in the year immediately following the five-year accumulation period. The Finance Act 2022 omission of that additional utilisation year operated prospectively and did not curtail rights attached to accumulations made earlier. Accordingly, application in financial year 2022-23 of income accumulated in financial year 2016-17 was not deemed taxable income for assessment year 2023-24. Return-processing adjustments cannot disallow such a claim where eligibility depends on reconciling records and resolving debatable questions concerning statutory interpretation and the amendment's temporal operation. Highlights Income Tax Tue, 11 Aug 2026 09:35:58 +0530 https://www.taxtmi.com/highlights?id=102579