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TMI Blog2020 (6) TMI 570X X X X Extracts X X X X X X X X Extracts X X X X ..... l. Apart from the above, also find that along with Form-10, a copy of the Board Resolution of the Assessee trust has been enclosed in which the purpose for which the accumulation is sought is clearly set out as for construction of temple, Upashraya, Dharmashala and objects of the trust . It is thus, clear that the order of the Tribunal suffers from an error apparent on the face of the record which requires to be rectified. The claim of assessee for accumulation ought to have been accepted by the revenue authorities. Even in the order of assessment the AO has accepted that Form-10 was filed by the assessee and the only grievance was that the purpose for accumulation was not mentioned. When the purpose of accumulation as contained in th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e purpose in future. With regard to the balance sum of ₹ 1,58,043/- (₹ 2,25,997 - 67,954), the Assessee can carry forward the same for future application, but the Assessee was obliged to file Form-10 for carry forward to ensure the aforesaid sum is not brought to tax. Admittedly, Assessee did not file Form-10 along with the return of income but filed the same before the AO during the assessment proceedings. The AO rejected the plea of the Assessee for accumulation for the reason that Form-10 did not specify the purpose for which the surplus income which is not spent will be utilized in future. 3. Before the ld. CIT(A) the Assessee pointed out that Form-10 was filed before the AO and a copy of the Board Resolution wherein the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on the face of the record, in as much as in Form-10 filed before the Tribunal, the purpose had been set out clearly in the Board Resolution annexed to Form-10. It was also pointed that the observation of the Tribunal in the impugned order that a copy of Form-10 was not filed before the Tribunal is incorrect, because Form-10 had been filed as part of the appeal papers along with Form-36 Appeal Memorandum before the Tribunal. 6. None appeared on behalf of the Assessee but a written submission was filed before the Tribunal reiterating the stand as contained in the miscellaneous application which are set out in the earlier paragraph. 7. The ld. DR relied on the order of the Tribunal and submitted that there is no mistake apparent on the r ..... X X X X Extracts X X X X X X X X Extracts X X X X
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