Commissioner (Appeals) had condoned the delay in filing form 10 and the Revenue had not challenged this issue. Hence, the first reasoning on which the Assessing Officer disallowed the accumulation under section\u00a011(2)\u00a0did not survive. Tribunal held that\u00a0 substantial justice should be preferred to technicalities in deciding the issue. The purpose for which the amount was claimed to be accumulated was specifically mentioned in form 10 of assessment year 2016-17 as to be applied to promote and support research scientists for the advancement of research and development in future. The\u00a0\u00a0 the Assessing Officer is directed\u00a0 to allow the consequential benefit under section\u00a011(2)\u00a0for the relevant year.(AY.2016-17, 2017-18)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 11 : Property held for charitable purposes-Commissioner (Appeals) condoned the delay in filing Form No 10-Revenue has not challenged the order of CIT(A)-Accumulation of income-Failure to provide specific purpose for accumulation of Funds Form 10-Entitled to exemption. [S. 11(2) 12A, Form No 10] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-51870","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-duC","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/51870","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=51870"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/51870\/revisions"}],"predecessor-version":[{"id":51871,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/51870\/revisions\/51871"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=51870"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=51870"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=51870"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}