TMI Blog2021 (3) TMI 1035X X X X Extracts X X X X X X X X Extracts X X X X ..... elying on ratio laid down in the Judgment Simla Chandigarh Diocese Society [ 2009 (8) TMI 103 - PUNJAB AND HARYANA HIGH COURT ] it is clear that if Form 10 is filed within the stipulated time and during the course of assessment proceedings before the Assessing Officer, there is no bar prohibiting the assessee from modifying the figure in the application. Only in the case of revised Form 10 being filed after the assessment proceedings, the same cannot be accepted. The said ratio laid down by the Hon'ble Supreme Court supports the case of the assessee. Nagpur Hotel Owners'Association [ 2000 (12) TMI 99 - SUPREME COURT ] It is not in dispute that the assessee filed Form 10 within the stipulated time. Since the Assessing Officer disa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d allow the accumulation of income ? 3. The respondent trust was registered under section 12AA vide order dated 07.01.2002 with effect from the Assessment Years 1999-2000 to 2001-2002. The assessee filed Form 10 along with the return of income seeking accumulation of income of ₹ 57,09,829/-. Subsequently, the assessee filed revised Form 10 seeking accumulation of income of ₹ 1,70,53,661/- for improvement of infrastructure facilities etc. The Assessing Officer did not consider the revised Form 10 as the jurisdiction vests only with the Commissioner of Income Tax and not with the Assessing Officer. 4. Aggrieved over the order passed by the Assessing Officer, the assessee filed an appeal before the Commissioner of Income Ta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Further, in support of his contentions, the learned counsel relied upon a Judgment of the Hon'ble Supreme Court reported in (2001) 114 Taxman 255(SC) [Commissioner of income Tax v. Nagpur Hotel Owners'Association] wherein the Hon'ble Supreme Court held as follows:- ...... 5. We find substantial force in this argument. Chapter III of the Act which consists of Sections 10 to 13A enumerates various types of income which do not form part of total income for the purpose of levy of tax. The relevant part of Section 11 in the said Chapter reads thus :- 11. Income from property held for charitable or religious purposes - (1) Subject to the provisions of sections 60 to 63, the following income shall not be included in t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... completes the assessment. In the absence of any such information, it will not be possible for the assessing authority to give the assessee the benefit of such exclusion and once the assessment is so completed, in our opinion, it would be futile to find fault with the assessing authority for having included such income in the assessable income of the assessee. Therefore, even assuming that there is no valid limitation prescribed under the Act and the Rules even then, in our opinion, it is reasonable to presume that the intimation required under Section 11 has to be furnished before the assessing authority completes the concerned assessment because such requirement is mandatory and without the particulars of this income the assessing authorit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Supreme Court supports the case of the assessee. 9. It is not in dispute that the assessee filed Form 10 within the stipulated time. Since the Assessing Officer disallowed the claim of application in respect of the depreciation, it filed a revised Form 10 enhancing the claim. The very intention of the assessee is to accumulate the surplus for the subsequent years. As per the ratio laid down in the Judgment reported in 318 ITR 96 [ cited supra], modified Form 10 may be furnished in the course of assessment proceedings and there is no specific bar prohibiting the assessee from modifying the figure of application. The order passed by the Tribunal as well as the Commissioner of Income Tax (Appeals) are just and proper. 10. In these c ..... X X X X Extracts X X X X X X X X Extracts X X X X
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