TMI Blog2019 (1) TMI 1083X X X X Extracts X X X X X X X X Extracts X X X X ..... ision 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. - D.B. Income Tax Appeal No.168/2018 - - - Dated:- 7-1-2019 - Mr. Justice Sangeet Lodha And Mr. Justice Dinesh Mehta For the Appellant(s) : Mr. K.K. Bissa JUDGMENT 1. The appellant has prefer ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 39/- was not even passed on the date of filing of the return i.e. 30.11.2014 and Form 10B came to be filed on 08.12.2016, after the return of income had been filed and confirmed the addition of ₹ 2,30,32,139/-. 5. Feeling aggrieved of the orders of the authorities below, the assessee preferred an appeal before the Income Tax Appellate Tribunal, Jodhpur Bench, Jodhpur. While allowing the assessee s appeal, the learned Members of the Tribunal relied upon the judgment of Hon ble the Supreme Court rendered in case of Nagpur Hotel Owners Association, reported in 247ITR201(SC). 6. Challenging the aforesaid order passed by the Tribunal dated 19.3.2018, Mr. Bissa, learned counsel for the appellant contended that the Tribunal has erred i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ut of place to reproduce the relevant excerpt of the above referred judgment of Hon ble the Supreme Court in case of Nagpur Hotel Owners Association, which reads thus :- It is abundantly clear from the wordings of sub-section (2) of Section 11 that it is mandatory for the person claiming the benefit of Section 11 to intimate to the assessing authority the particulars required, under Rule 17 in Form No.10 of the Act. If during the assessment proceedings the Assessing Officer does not have the necessary information, question of excluding such income from assessment does not arise at all. As a matter of fact, this benefit of excluding this particular part of the income from the net of taxation arises from Section 11 and is subjected to th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... :- From the circular issued by the Department dated June 3, 1980 and the judgment of the apex court referred to above, it can be considered that the requirement to prescribe (sic) the time-limit is only directory and not mandatory. Non-compliance within the stipulated time should not disentitle an assessee from the exemption to which he is otherwise entitled. The Income Tax Officer has rejected the claim of the assessee only on the ground that the notice for accumulation under Section 11(2) is beyond time. The Appellate Assistant Commissioner has examined this matter and has observed that the Income Tax Officer has not doubted the correctness of the resolution or the accounts of the trust and for that purpose the Income Tax Officer was ..... X X X X Extracts X X X X X X X X Extracts X X X X
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