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2019 (1) TMI 1083 - HC - Income TaxExemption u/s 11 - addition made on the pretext that Form No.10 was filed belatedly - Held that:- The judgment rendered in case of Nagpur Hotel Owners Association [2000 (12) TMI 99 - SUPREME COURT] squarely applies to the facts of present case, wherein Hon’ble the Supreme Court has held that Form No.10 should be submitted before framing of the assessment order. That apart, as long as the entitlement of the assessee regarding setting apart of the accumulated profit is not doubted, no addition can be made on the pretext that Form No.10 was filed belatedly. This view of ours is fully fortified by a Division Bench of this Court rendered in case of ANJUMAN MOINIA FAKHARIA [1993 (10) TMI 51 - RAJASTHAN HIGH COURT] the provisions of Rule 17 which are framed under Section 11(2) before April 1, 1971, did not prescribe any time-limit for filing Form No.10 and without there being any amendment in the provisions of the Act, the rule was substituted with effect from April 1, 1971, prescribing the time-limit from the assessment year 1971- 72. Prior to the assessment year 1971-72, the form could have been submitted upto the stage of assessment.
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