https://www.taxtmi.com/caselaws?id=57935 The Tribunal upheld the denial of accumulation benefit as the purpose for accumulating income was deemed vague and not specific under Section 11(2) of the Income-tax Act. The appeal challenging the issuance of notices under Sections 271(1)(a) and 274 was dismissed, clarifying that the show-cause notice is a procedural step and does not give rise to immediate grievance. The Tribunal upheld the allowance of foreign expenses for charitable purposes, considering them incidental to fulfilling the charitable object in India. Additionally, the allowance of depreciation on the trust's assets was upheld as the income should be computed in a commercial sense, including depreciation. en-us Sat, 26 Feb 1983 00:00:00 +0530 Wed, 15 Dec 2010 15:16:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57935 The Tribunal upheld the denial of accumulation benefit as the purpose for accumulating income was deemed vague and not specific under Section 11(2) of the Income-tax Act. The appeal challenging the issuance of notices under Sections 271(1)(a) and 274 was dismissed, clarifying that the show-cause notice is a procedural step and does not give rise to immediate grievance. The Tribunal upheld the allowance of foreign expenses for charitable purposes, considering them incidental to fulfilling the charitable object in India. Additionally, the allowance of depreciation on the trust's assets was upheld as the income should be computed in a commercial sense, including depreciation. Case-Laws Income Tax Sat, 26 Feb 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57935