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TMI Blog2020 (3) TMI 1202X X X X Extracts X X X X X X X X Extracts X X X X ..... The conclusion was that the requirement of filing Form 10 at the time of assessment was only directory and it would suffice if the same were filed even thereafter so long as relevant information in support of the claim of accumulation was furnished by the assessee even at the time of assessment. The impugned order of assessment in this case refers to the claim of accumulation and the details of such accumulation. For this reason and in line with the judgment of Supreme Court in Nagpur Hotel [ 2000 (12) TMI 99 - SUPREME COURT] that has also been followed by this Court in the case of Commissioner of Income Tax V. Spic Educational Foundation [ 2019 (2) TMI 1438 - MADRAS HIGH COURT] the petitioner was permitted on 06.01.2020 to file a peti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 12AA of the Act. 2. The Trust was established in 1995 by the general body of the Bar Association for the purpose of carrying out avowed charitable objects including encouragement of the profession of law and the promotion of legal, cultural and philanthropic services. It also states that it provides medical relief for the benefit of the public, in particular lawyers and their dependents. 3. For A.Y.2016-17, the petitioner sought exemption under Section 11 of the Act requiring the petitioner to apply 80% of its gross receipts in respect of the financial year or, in the alternative, accumulating the amount in terms of Section 11(2) of the Act. The claim of accumulation requires filing of Form 10 within the specified time limit. This was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed time limit. 6. The matter was listed today for production of a copy of the order of the Commission either accepting or rejecting the request for condonation and it is seen that vide order dated 28.01.2020 passed under Section 119(2)(b) of the Act, R2 has, after consideration of the submissions of the petitioner, condoned the delay in the following terms: '4. In obedience to the order of the Hon'ble High Court, the case has been posted for hearing on 21/1/2020 at 10.30 AM. The AR of the trust appeared and filed relevant particulars. The AR has been asked to file further information in respect of the claim for accumulation. The said details have been filed on 27.01.2020. The details filed have been considered. 5. It is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sonable cause from filing of applications in Form No.10 within the stipulated time. Further, in respect of Form No.10, the Commissioner shall also satisfy himself that the aunt accumulated or set apart has been invested or deposited in any one or more of the forms or more specified in sub-section(5) of Section 11 of the Act 8. The assessee fulfilled the above conditions and therefore, I am satisfied that it is a fit case for condonation of delay in filing Form No.10 and accordingly, the delay in filing Form No.10 by the assessee for accumulation of ₹ 13,76,161/-, as claimed, for the Assessment Year 2016-17 is hereby condoned.' 7. The impugned assessment which rejects the claim of exemption solely on the ground of non-fil ..... X X X X Extracts X X X X X X X X Extracts X X X X
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