{"id":14784,"date":"2021-01-03T14:26:49","date_gmt":"2021-01-03T14:26:49","guid":{"rendered":"https:\/\/itatonline.org\/digest\/gnyan-dham-vapi-charitable-trust-v-dy-cit-202082-itr-14-snahd-trib\/"},"modified":"2021-01-03T14:26:49","modified_gmt":"2021-01-03T14:26:49","slug":"gnyan-dham-vapi-charitable-trust-v-dy-cit-202082-itr-14-snahd-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/gnyan-dham-vapi-charitable-trust-v-dy-cit-202082-itr-14-snahd-trib\/","title":{"rendered":"Gnyan Dham Vapi Charitable Trust v. Dy. CIT (2020)82 ITR 14 (SN)(Ahd) (Trib)"},"content":{"rendered":"<p>A statutory obligation has been cast on\u00a0 beneficiary trusts to\u00a0 utilise\u00a0 at\u00a0 least 85 Per Cent. of the income derived from the trust property unless accumulated or \u00a0set apart for application in subsequent years subject to certain stipulated conditions , without any time limit is benevolent in nature, however it \u00a0cannot be \u00a0regarded as an obligation envisaged in law. Followed , Maharshi Karve Stree Shikshan Samstha Karvenagar v. ITO ( 2019) 174 ITD 591 (Pune) (Trib) <strong>\u00a0<\/strong>\u00a0( AY.2015-16)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 11 : Property held for charitable purposes &#8211;  Application of income \u2013 Accumulation of income -Retain or  accumulate 15 Per Cent. of  income without any time limit and is  benevolent in nature  however  it cannot be  regarded as an obligation envisaged in  Law.   [ S. 11(1)(a) , 11(1)(b ) ]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-14784","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-3Qs","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/14784","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=14784"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/14784\/revisions"}],"predecessor-version":[{"id":14785,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/14784\/revisions\/14785"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=14784"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=14784"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=14784"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}