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2015 (12) TMI 350 - AT - Income TaxDisallowance of amount claimed as accumulation and amount claimed as set apart for the assessment years 2008-09 and 2009-10 respectively u/s.11(2) - Held that:- In the present case, though the assessee filed Form-10 during the time of assessment, setting apart amount, the period etc. are not shown and the columns in the form to be filled are left blank. The contention of the ld. AR is that though there were discrepancies in Form-10, it should be considered rectified in view of resolution passed. The resolution passed does not show the name of the assessee as well as the period. Thus, the resolution is also defective and it is not having all the information required. There is no dispute that it is mandate of sec.11 of the Act to specify the purpose and period for which accumulation is sought for and he assessee has not complied with the provisions of sec.11(5) of the Act. Considering the totality of facts and circumstances of the case, in our opinion, the orders of the lower authorities are justified in dismissing the appeal of the assessee. - Decided against assessee
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