2015 (9) TMI 1637

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....dent : Shri P.B. Kedia ORDER PER RAJPAL YADAV, JUDICIAL MEMBER: The Revenue is in appeal before us against the order of the ld.CIT(A) dated 13.6.2013. The Revenue has taken four grounds of appeal. But its grievance revolves around a single issue i.e. whether the assessee can accumulate 15% of the income derives from property held under the Trust under section 11(1)(a) of the Income Tax Ac....

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....ct to any conditions. 3. With the assistance of the ld.representative, we have gone through the record carefully. The ld.counsel for the assessee has placed on record a copy of the judgment of the Hon'ble Supreme Court in the case of CIT Vs. Programme for Community Organisation, 248 ITR 1 = 166 CR 401 (SC). We find that this decision has silenced the controversy. It is very small decision. It r....

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....983 the Tribunal is right in law in holding that the Commissioner (Appeals) has rightly interfered with the order of the Income-tax Officer ?" 2. The answers being in favour of the assessee, the revenue is in appeal by special leave. 3. The question that really requires consideration is whether, for the purposes of section 11(1)(a) of the Income-tax Act, 1961 ('the Act'),....

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....t wholly for charitable or religious purposes, to the extent to which such income is applied to such purposes in India; and where any such income is accumulated or set apart for application to such purposes in India, to the extent to which the income so accumulated or set apart is not in excess of twenty-five per cent of the income from such property;" 4. Having regard to the plain langua....