Assessee-trust, received a grant eight days before year-end and could not fully utilize amount within that short period, but utilized it in financial year 2015-16. Assessee filed its audit report in Form 10B before filing return on same day, specifying an option to deem application under clause (2) of Explanation to section 11(1).Thereafter, return was filed within specified extended due date and disclosed same option in clause 9(iv) of Part B-TI-After Finance Act, 2015 introduced Form 9A from assessment year 2016-17, assessee, by abundant caution, also filed Form 9A in 2023-Commissioner (E) held that assessee was still required to file Form No.9A manually for relevant assessment year. He also refused to condone delay in filing Form No. 9A; consequently, accumulation claimed by assessee was denied. On writ, the Court held that the requirement for filing of Form No. 9A was introduced into statute vide Finance Act, 2015 with effect from 1-4-2016.  It was also noted that the assessee had laid the necessary foundation for exercising the option by stating so in their audit report in Form No. 10B as well as in their return, which were filed within time. Court held that for assessment year 2015-16, there was no prescribed format for exercising the option as referred to in clause (2) of Explanation to section 11(1). Since there was no requirement to file Form 9A, it could not be said that the assessee had delayed filing of Form 9A, and the order was set aside.  CBDT Circular No. 19 of 2015, dated 27-11-2015. (AY. 2015-16)