Tribunal held that, 15 per cent accumulation of income for application in future for charitable purpose has to be calculated on gross receipt and not on net receipt after deduction of revenue expenditure. Tribunal held that where assessee was enjoying section 12A registration which was granted by competent authority after satisfying himself that assessee was engaged in charitable activities as contemplated under section 2(15) and registration granted had not been withdrawn or revoked as on date and even Assessing Officer had not raised any adverse view against assessee in respect to its activities under section 2(15), CIT (A) suo motu observation that assessee trust’s activities were not covered under section 2(15) was per se bad for non-observation of principles of natural justice. Tribunal also held that donation to charitable organisation which is established for taking care of pregnant women/ladies would be allowed as application of income.