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2016 (1) TMI 569 - AT - Income TaxRefusal to allow accumulation under Section 11(1)(a) - Held that:- Following the decision of the co-ordinate bench of this Tribunal in Jyothi Charitable Trust (2015 (11) TMI 1295 - ITAT BANGALORE), we hold and direct the Assessing Officer to allow the accumulation of income at 15% of the gross receipts as claimed by the assessee and not on the basis of net income as held by him and accordingly set aside the orders of the authorities below.
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