2000 (11) TMI 4 - SUPREME COURT

Assessee-trust received donations in the aggregate sum of Rs. 2,57,376. It applied thereout for its charitable purposes the aggregate sum of Rs. 1,70,369 leaving a balance of Rs. 87,010 - it is clear that a charitable/religious trust is entitled to accumulate 25% of its income derived from property held under trust -the donations the assessee received, in the sum of Rs. 2,57,376, would constitute its property and it is entitled to accumulate 25% thereout