TMI Blog2005 (8) TMI 88X X X X Extracts X X X X X X X X Extracts X X X X ..... income in Form No. 10 submitted by it. - just because details about the plans which the assessee has for spending on such purposes are not given may not be sufficient to deny the exemption admissible to it under section 11. So long as one or more of the purposes specified by the assessee find place in the objects for which the society has been incorporated and so long as the said purpose are chari ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed by it. Mr. Jolly, learned counsel for the Revenue argued that the purposes specified in Form No. 10 were general and did not therefore constitute a sufficient compliance with the provisions of section 11(2) of the Act. He urged that in order to be eligible for the grant of the benefit under section 11, the assessee was required to specify in clear terms the purpose for which the income was be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e charitable in nature. The position is no different in the instant case. Here too, out of 29 purposes/objects stipulated in the memorandum of association, the assessee has specified eight purposes in Form No. 10 for which it was accumulating the unspent income while claiming benefit under section 11. It is not the case of the Revenue that any of these eight purposes are not charitable or that the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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