Case Laws / Head Notes / Paras
Charitable purposes/Finding that income of trust had been accumulated and that balance had been applied for charitable purposes/Tribunal was justified in granting exemption to charitable trust/No question of law arose/Indian Income Tax Act, 1961, Ss. 11 & 256(2).Accumulation of income of charitable trust/Investment of income beyond ceiling imposed by law in accordance with S. 11(2)/Tribunal justified in granting exemption in respect of such amount/Tribunal’s decision in accordance with Supreme Court decision/No question of law arose/Indian Income Tax Act, 1961, Ss. 11 & 256(2).Held, dismissing the application for reference, (i) that the Tribunal had held that as regard Rs. 42,243, it should be taken as part of the investment over and above Rs. 6 lakhs invest in approved...
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