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The Tax PublishersITA No. 220/Chd/2020
2020 TaxPub(DT) 5433 (Chd-Trib)INCOME TAX ACT, 1961
Section 11
Section 11(2) does not mandate a limitation for filing of notice of accumulation in prescribed Form No. 10, but it is the Rules which prescribe so non-filing of the same was a mere irregularity and technical lapse which was to be condoned especially when assessee had filed prescribed Form during assessment proceedings, therefore, Form No. 10 filed during assessment proceedings was to be for granting benefits under section 11(2).
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Charitable trust - Exemption under section 11 - Denial accumulation under section 11(2) on account of non-filing of Form No. 10 before due date of filing of return of income - Assessee filed Form No. 10 during assessment proceedings
Assessee-trust claimed exemption under section 11. AO did not allow accumulation under section 11(2) on account of non-filing of Form No. 10 before due date of filing of return of income. Held: Clearly, section 11(2) does not mandate a limitation for filing of notice of accumulation in prescribed Form No. 10, but it is the Rules which prescribe so non-filing of the same was a mere irregularity and technical lapse which was to be condoned, especially when assessee had filed prescribed Form during assessment proceedings, therefore, Form No. 10 filed during assessment proceedings was to be for granting benefits under section 11(2).
Relied:Addl. Director of Income Tax (Exemptions) v. Manav (2008) 20 SOT 0517 (Del-Trib) : 2008 TaxPub(DT) 1078 (Del-Trib), Moti Ram Gopi Chand Charitable Trust v. Addl. CIT (2013) 59 SOT 197 (Del-Trib) : 2013 TaxPub(DT) 2494 (Del-Trib), Jt. CIT v. Sewa Education Trust (2013) 27 ITR (AgraTrib) 292 : 2013 TaxPub(DT) 2742 (Agra-Trib) and V. Ramakrishna Charitable Trust v. Dy. Director of Income Tax (Exemptions)-II (2015) 155 ITD 727 (Chen-Trib) : 2015 TaxPub(DT) 5298 (Chen-Trib).
REFERRED :
FAVOUR : In assessee's favour.
A.Y. : 2016-17
IN THE ITAT, CHANDIGARH BENCH
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