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2015 (8) TMI 276 - HC - Income TaxBenefit of accumulation U/s. 11(2) denied - Held that:- Judgment in the case of the trustees of Singhania Charitable Trust [1991 (7) TMI 16 - CALCUTTA High Court] relied upon by revenue has no manner of application to the facts and circumstances of this case because in this case admittedly there are also 28 objects, out of which only one object was indicated in the option under sub-section (2) of section 11 for which the accumulation was sought to be made. Therefore, the requirement of law was sufficiently met. he requirement of sub-section (2) of section 11 had duly been complied with by the assessee. Therefore, the exemption should have been allowed. - Decided in favour of assessee.
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