Tag: section 11(2)

Section 11(2) related to accumulation of income not require that it can be utilized only after expenditure of relevant assessment are applied. In a recent judgment, ITAT Lucknow has held that Section 11(2) related to accumulation of income by charitable institutions does not provide that expenditure of relevant …

Belated Form 10 allowed as trust had reasonable belief it has applied 85% of income for charitable purposes and not required to file Form 10 for accumulation of income ABCAUS Case Law Citation:ABCAUS 3729 (2023) (05) ITAT In the instant case, the assessee had challenged the order passed …