M/S QUEEN'S EDUCATIONAL SOCIETY vs. COMMR.OF INCOME TAX
C.A. No.-005167-005167 - 2008Supreme Court16 Mar 2015
Bench: The Uttarakhand High Court, Nainital, May Be Gleaned From The Facts Of One Of Them, Namely, The Queen’S Educational Society Case. The Appellant Filed Its Return For Assessment Years 2000-2001 & 2001-2002 Showing A Net Surplus Of Rs.6,58,862/- & Rs.7,82,632/- Respectively. Since The Appellant Was Established With The Sole 2
Section 10Section 10(22)Section 260A
addition, under Section 11(1)(a),
the assessee can accumulate 25% of its total
income pertaining to the relevant assessment year
and claim exemption in respect thereof. Section
11(1)(a) does not require investment of this limited
accumulation in government securities. The balance
income of Rs 1,64,210.03 constitutes less than 25%
of the income for Assessment Year
