The Court held that delay in filing Form No. 10 for claiming accumulation of income under section 11(2) is a procedural lapse capable of being condoned under section 119(2)(b), where the assessee is a genuine religious/charitable institution and has otherwise substantially complied with the statutory requirements. The Court observed that when the intention to accumulate income is evident from contemporaneous records such as resolutions, audit reports and the return of income, denial of exemption solely on the ground of delayed filing of Form No. 10 would defeat the object of the beneficial provisions of section 11. Accordingly, the rejection of the assessee’s request for condonation by the CIT (E) was held to be unsustainable and was set aside.(AY. 2016-17)