Accumulation under Section 11(2) is permissible for specific revenue purposes aligned with trust objects.
Accumulation under Section 11(2) is permissible for specific revenue purposes aligned with trust objects. Issue Whether accumulation of income under Section 11(2) of the Income-tax Act, 1961 is restricted only to capital expenditure/long-term projects, or if it can also be allowed for specific revenue purposes that align with the objects of the trust. Facts The… Read More »