15% Accumulation for Charitable Trusts under Section 11(1)(a) is Unconditional

Shree Subrahmanya Temple Vs ITO (ITAT Bangalore) ITAT Bangalore: 15% Accumulation under Section 11(1)(a) is Unconditional – Trust granted Relief, Additional accumulation issue remanded Bangalore ITAT in the case of Shree Subrahmanya Temple vs. ITO (Exemption) has partly allowed the appeal of the assessee by granting the statutory accumulation of 15% u/s 11(1)(a) &  remanding the issue of the remaining accumulation u/s 11(2)   to the file of AO for fresh consideration. Assessee is a charitable trust & during the year has shown receipt of ₹45,20,536 against which claimed applicati...