2004 (1) TMI 11

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..... the issue of claiming benefits under section 11 of the Income-tax Act, 1961 (hereinafter referred to as "the said Act"). Under rule 17 of the Income-tax Rules, 1962, a person is required to file Form No. 10 giving specific details for accumulation. Learned counsel for the appellant (Revenue) contends that mere listing of the manifold objects of the trusts would not suffice. Each purpose of accumul .....

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..... DA for purchasing land at Mohali with the intention of starting an educational institution; and (iv) In subsequent assessment years i.e., 1998-99 and 1999-2000, the assessee-trust had paid instalments of Rs. 1.57 crores to PUDA and it had been accepted as an educational and charitable trust and the request for accumulation allowed." It is also observed by the Tribunal that the Commissioner of In .....

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