Assessee-trust filed return claiming exemption under section 11 and accumulation under section 11(2). Form No. 10 for accumulation was filed electronically after the due date under section 139(1). Assessing Officer denied assessee’s claim for accumulation under section 11(2) on the ground that assessee failed to file the requisite Form within the stipulated time. Application for condonation of delay was rejected by the CIT(E). On writ, the court held that accumulation was already disclosed in the return of income and supported by Board resolution and audit report in Form No. 10B, all existing prior to the due date; thus, the claim was not a new claim but one always made and supported by contemporaneous documents. Substantive requirements of section 11(2), viz., investment under section 11(5) and application within the stipulated time, stood fulfilled. Further, delay occurred as the year under consideration was the first year after statutory amendment and assessee bona fide believed Form No. 10 could be filed during scrutiny proceedings based on the pre-amended position. Court held that since assessee would suffer genuine hardship if delay was not condoned, as the accumulated amount had already been applied towards objects of trust in relevant assessment year and if exemption in respect of the accumulated amount was denied and tax demand arising on account of denial of benefit of accumulation was recovered, it would place assessee in gross financial difficulty, delay in filing Form No. 10 was condoned. (AY. 2018-19)