https://www.taxtmi.com/caselaws?id=60730 A registered charitable institution under section 12A was held entitled to exemption for amounts accumulated and set apart for charitable purposes, including future capital expenditure. Rule 17 was construed as not imposing a rigid time limit for seeking permission to accumulate, and accumulation for future capital expenditure was accepted as within charitable application. The Revenue's objection based on alleged non-compliance with the rule was rejected, and the exemption claim on the accumulated sums was upheld in favour of the assessee. en-us Tue, 17 Feb 1981 00:00:00 +0530 Fri, 07 Jan 2011 18:12:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60730 A registered charitable institution under section 12A was held entitled to exemption for amounts accumulated and set apart for charitable purposes, including future capital expenditure. Rule 17 was construed as not imposing a rigid time limit for seeking permission to accumulate, and accumulation for future capital expenditure was accepted as within charitable application. The Revenue's objection based on alleged non-compliance with the rule was rejected, and the exemption claim on the accumulated sums was upheld in favour of the assessee. Case-Laws Income Tax Tue, 17 Feb 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60730