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2020 (8) TMI 327 - HC - Income TaxExemption u/s 11 - Form No.10 filed by the Assessee belatedly about the accumulation of income by the respondent Assessee - Whether form 10 can be accepted by the assessing officer during the reassessment proceedings as held by ITAT? - HELD THAT:- Even otherwise we are satisfied that against the impugned order of the learned Tribunal, no question of law arises for our consideration under Section 260A of the Act, since a Coordinate Bench has already held that Form No.10 filed belatedly could be taken into account by the Assessing Officer and has remanded the case back to the Assessing Authority in the case of Chandraprabhuji Maharaj Jain -vs- Deputy Commissioner of Income-tax, (Exemptions), Chennai [2019 (8) TMI 363 - MADRAS HIGH COURT]. Therefore, we are of the opinion that the learned Assessing Authority has rightly taken into account the Form No.10 filed by the Assessee in the present case albeit belatedly and has granted the desired relief to the respondent Assessee, which is a Government Company incorporated for promotion of Industrial Development in the State. - Decided against revenue.
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