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2009 (12) TMI 50 - MADRAS HIGH COURTAccumulation of income u/s 11(2) – Charitable Trust - purpose of accumulation of the income - The assessing officer while deciding the application of income in Form No.10 was of the opinion that the purpose of accumulation mentioned therein are vague and not specific and hence declined the benefit of accumulation under Section 11(2) of the Act by following the decision of the jurisdictional High Court in the case of CIT Vs. M.Ct.M.Chettiar Family Trust [2008 -TMI - 14945 - MADRAS High Court] – held that - , the assessee was allowed to adduce fresh evidence to show the specific purpose for which the trust requires accumulation of the income - the order of the Tribunal is hereby set aside and the matter is remitted back to the assessing officer
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