High Court of Karnataka Allows Revenue Appeal in Income Tax Case — Accumulation of Donations Under Section 11(2) Denied for Failure to Specify Object and Comply with Section 11(5). The assessee trust's claim for accumulation of 85% of donations without specifying the object of accumulation and without investing in prescribed modes under Section 11(5) was held invalid.
13 Mar 2015The Revenue appealed against the order of the Income Tax Appellate Tribunal which granted the benefit of Section 11(2) of the Income Tax Act, 1961 to ...
