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2015 (9) TMI 1637 - AT - Income TaxAccumulation of the income derived from property held under the Trust under section 11(1)(a) - @15% of the income derives from property held under the Trust under section 11(1)(a) or its accumulation can only be restricted to 15% of the balance amount remained with the assessee after applying for charitable purpose - CIT(A) held that exemption available under section 11(1)(a) i.e. 15% of the income is unfettered and not subject to any conditions - Held that:- 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 [2000 (11) TMI 4 - SUPREME COURT] as held it is clear that a charitable or religious trust is entitled to accumulated twenty-five percent of income derived from property held under trust. For the present purposes the donations the assessee received, in the sum of ₹ 2,57,376, would constitute its property and it is entitled to accumulate twenty five per cent thereout. - Decided against revenue
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