Answers On Topic: accumulation of income
  Charitable Trust -Faceless Assessment –Accumulation of income – Failure to consider the submission, what is the remedy .?
We have submitted all documents for deduction as application including the bank statement.  The Fixed deposits made during 15-31st March shown as FDs in Balance sheet in respect of contributions received during 2nd week of March and claimed by filing necessary application for accumulation, the Officer misconstrued it as an application and treated the contribution as incoome and assessed the same.  The rectification Petition filed before Juridictional AO failed to appreciate the fact and simply rejected saying that the E-asst. officer has already considered.  What to do now ?  Of course we have already filed an appeal aleady.


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