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1995 (10) TMI 2 - SC - Income Tax
Charitable Trust - whether exemption under s. 11 can be denied on the ground that the assessee should have invested the entire surplus amount in one or other of the securities mentioned in s. 11(2)(a) - If the entire income received by a trust is spent for charitable purposes, in India, then it will not be taxable but if there is a hearing i.e. an accumulation of 25 per cent. or ₹ 10,000 whichever is higher, it will not be included in the taxable income