Dismissing the appeal of the Revenue the Court held that the Tribunal held that assessee had in fact spent much more than 85 per cent of its receipts under head ‘funds pending utilization’ and also of total receipts and entire spending was towards charitable purposes and there was no income accumulated or set apart in excess of 15 per cent of income during year under consideration. Order of Tribunal quashing the reassessment order is affirmed.   (AY. 2004-05, 2005-06)