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TMI Blog2009 (12) TMI 97X X X X Extracts X X X X X X X X Extracts X X X X ..... ion to educational institutions, relief of people affected by natural calamities, scholarship for students, conduct of annual charities as per will, contribution to Pachiayappa's Trust and charity donations. The assessing officer while deciding the application of income in Form No.10 found that the purpose of accumulation mentioned therein are vague and not specific and hence declined the benefit of accumulation under Section 11(2) of the Act. The accumulation was allowed on the gross receipts and not on net income as allowed in earlier years. – held that – matter remanded back to the Assessing Officer and the assessee shall specify the purpose in addition to renovation and repair of the building and also the amount and the period for which ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aiming exemption under Section 11 of the Income-tax Act. Out of this surplus, the accumulation of income under Section 11(1)(a) and 11(2) of the Income Tax Act has been claimed by the appellant. The appellant also filed form 10 giving reason for accumulating the income stating that the accumulation is for the purposes of contribution to poor feeding, temple festival expenses, contribution to temple, other charitable expenses, repairs and maintenance of the assets, contribution to educational institutions, relief of people affected by natural calamities, scholarship for students, conduct of annual charities as per will, contribution to Pachiayappa's Trust and charity donations. The assessing officer while deciding the application of income i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nding the amount and also the Official Trustee will have to act under the supervision of the High Court. The appellant submitted that the decision of the Madras High Court is on a different issue and the observation made by the Bench cannot lay down the law. The appellant placed reliance on a decision of the Delhi High Court in the case of Hotel and Restaurant Association (260 ITR 190). The Tribunal after considering the arguments has held that the conditions stipulated in form 10 for availing the benefit of accumulation of income under Section 11(2) are not satisfied and relied on Madras High Court judgment reported in 245 ITR 400 which is not applicable to the facts of the case and dismissed the appeal filed by the appellant. Aggrieved by ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ich accumulation is required, and the Assessing Officer shall consider the same in accordance with law...." 4. Having regard to the submission made by the counsel on either side, the order of the Tribunal is hereby set aside and the matter is remitted back to the assessing officer in terms of the direction given in the order dated 15.12.2008 made in T.C.(A) No.281 of 2004 and the tax case is disposed of accordingly. (K.R.P., J.) (M.M.S., J.) 14.12.2009 Index: Yes Internet: Yes usk Copy to: 1. The Income-tax Appellate Tribunal, Madras A Bench, Chennai 2. The Commissioner of Income Tax (Appeals)-XI, Chennai 3. The Asst.Director of Income-tax (Exemptions)-II, Chennai. K.RAVIRAJA PANDIAN, J ..... X X X X Extracts X X X X X X X X Extracts X X X X
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