TMI BlogCondonation of delay under section 119(2)(b) of the Income-tax Act, 1961 in filing of Form No, 10 and Form No. 9A for Assessment Year 2018-19 and subsequent yearsX X X X Extracts X X X X X X X X Extracts X X X X ..... Central Board of Direct Taxes New Delhi, the 3 January, 2020 Sub: Condonation of delay under section 119(2)(b) of the Income-tax Act, 1961 in filing of Form No, 10 and Form No. 9A for Assessment Year 2018-19 and subsequent years-Reg. Under the provisions of Section 11 of the Income-tax Act, 1961 (hereafter 'Act') the primary cond ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t or institution, 85% of income can only be accumulated for a period not exceeding 5 years subject to the conditions, inter alia, that such person submits the prescribed Form No. 10 electronically to the Assessment Officer within the due date specified under section 139(1) of the Act. 3. Further, where the income from property held under trust or institution applied to charitab ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... A and Form No. 10 may be condoned under Section 119(2)(b) of the Act . 5. Accordingly, in suppression of earlier Circulars / Instructions issued in this regard, with a view to expedite the disposal of application filed by the trust or institution for condoning the delay and in exercise of the powers conferred u/s 119(2) (b) of the Act , the Central Board of Direct Taxes has ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ) of the IT Act and decide on merits. 7. The Commissioners of Income-tax shall, while entertaining such belated applications in Form No.9A and Form No. 10 , satisfy themselves that the assessee was prevented by reasonable cause from filing of applications in Form No.9A and Form No. 10 within the stipulated time. Further, in respect of Form No. 10 , the Commissioners shall a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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