Benefit of accumulation of income couldn’t be denied where funds are duly accumulated for main objects of trust

INCOME TAX : Once assessee has accumulated income with a specific purpose and such purpose is specified in main objects of trust, then Assessing Officer cannot deny such accumulation of income merely for reason that purpose specified in Form No. 10 is vague and general in natureINCOME TAX : Once assessee has accumulated income with a specific purpose and such purpose is specified in main objects of trust, then Assessing Officer cannot deny such accumulation of income merely for reason that purpose specified in Form No. 10 is vague and general in naturewww.taxmann.com Latest Case LawsRead More

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