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![Accumulation of Income by Society should be for Specific Purpose, Failure would attract Income Tax: Punjab and Haryana HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2020/02/Fake-Invoice-Punjab-Haryana-High-Court-Taxscan.jpg "Accumulation of Income by Society should be for Specific Purpose, Failure would attract Income Tax: Punjab and Haryana HC [Read Judgment]")
Accumulation of Income by Society should be for Specific Purpose, Failure would attract Income Tax: Punjab and Haryana HC [Read Judgment]
The High Court of Punjab and Haryana held that the amount accumulation by the society in excess of 15% must be for a specific purpose and not for the...