Allowing the appeal the Tribunal held accumulation of income cannot be denied on the ground that the purpose specified in Form No. 10 is vague and general in nature. (AY. 2012-13)
Arhatic Yoga Ashram Management Trust v. ITO (2021) 188 ITD 14 (Chennai)(Trib.)
S. 11 : Property held for charitable purposes-Accumulation of income-Not specifying the specific purpose-Exemption cannot be denied. [S. 11(2), Form No. 10]