Accumulation of income issue set aside to the file of Assessing Officer to adjudicate afresh. As regards delay in filing of return it was held that in the light of Circular Nos. 7 of 2018, dated December 20, 2018 [1 and 6 of 2020, dated February 19, 2020], the form 10 furnished by the assessee during the course of assessment proceedings before completion of the assessment was to be considered by the Assessing Officer while considering the claim for benefit under section 11(2) of the Act. (AY.2016-17)
Institution of Civil Engineers Society v. ACIT(E) (2021) 91 ITR 56 / 213 TTJ 33 (UO) (Chd.)(Trib.)
S. 11 : Property held for charitable purposes-Accumulation of income-Issue set aside to file of Assessing Officer to be adjudicated afresh-Due date for filing Form 10 extended to 17-10-2016 for Assessment Year 2016-17-Submission of form belatedly but before completion of assessment. [S. 11(2(), 12AA(1)(b)(i), Form No.10]