Amendment of section 11

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..... le or religious purposes, to the extent to which such income is applied to such purposes in India; and, where any such income is accumulated or set apart for application to such purposes in India, to the extent to which the income so accumulated or set apart is not in excess of twenty-five per cent, of the income from such property; (b) income derived from property held under trust in part only .....

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..... ous purposes in India falls short of seventy-five per cent, of the income derived during that year from property held under trust, or, as the case may be, held under trust in part, by any amount- (i) for the reason that the whole or any part of the income has not been received during that year, or (ii) for any other reason, then- (a) in the case referred to in sub-clause (i), so much of th .....

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..... erived, and the income so deemed to have been applied shall not be taken into account in calculating the amount of income applied to such purposes, in the case referred to in sub-clause (i), during the previous year in Which the income is received or during the previous year immediately following, as the case may be, and, in the case referred to in sub-clause (ii), during the previous year immedia .....

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..... llowing the previous year in which the income was derived."; (iii) in sub-section (2), for the portion beginning with the words, brackets, letters and figure "Where any income referred to in clause (a) or clause (b) of sub-section (1)" and ending with the words "the following conditions are complied with, namely:-", the following shall be substituted, namely: - "Where seventy-five per cent, of .....

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..... vested or deposited in accordance with the provisions of clause (b) of sub-section (2) cannot be applied for the purpose for which it was accumulated or set apart, the Income-tax Officer may, on an application made to him in this behalf, allow such person to apply such Income for such other charitable or religious purpose in India as is specified in the application by such person and as is in conf .....

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