Assessee, a charitable trust engaged in educational activities which included granting of scholarships to students, filed Form No. 10 for accumulation of income under section 11(2). Assessing Officer disallowed income accumulated under section 11(2), holding that the purpose stated for accumulation i.e. ‘towards object of trust ‘, was generic and it was a mandatory requirement that the purpose stated for accumulation should be specific. CIT(A) confirmed the disallowances. On appeal, the Tribunal held that   Form No. 10 filed by assessee stated the purpose of accumulation as ‘for objects of trust’. It was also noted that said Form No. 10 was supported by a board resolution passed by the board of directors of the assessee-company wherein it was clearly mentioned that the accumulated amount was to be utilised for providing scholarship (educational purpose). Vagueness of purpose of accumulation as stated in Form 10 would not be fatal, and assessee would be entitled to claim benefit of section 11(2) in respect of the same. The matter was to be remanded to Assessing Officer, and disallowance to the extent the accumulated amount had been utilised for the aforesaid purpose was to be deleted by the Assessing Officer. (AY. 2016-17)