The assessee-trust claimed accumulation of income under section 11(2). The AO denied exemption on the ground that the purpose of accumulation was not specified. The CIT(A) allowed the claim. On appeal, the Tribunal held that Form 10 contained specific reasons for accumulation, which were within the objects of the trust. Accordingly, exemption under section 11 was rightly allowed. (AY. 2018-19)