9911796707
TMI Blog2024 (4) TMI 194X X X X Extracts X X X X X X X X Extracts X X X X ..... nt Year 2016-17. 2. The first issue raised by the assessee is that the Ld. CIT(A) erred in not granting the benefit provided u/s 11(2) of the Act, on the reasoning that the form 10 was not filed along with the return of income. 3. In the present case, the assessee is a trust and claimed exemption u/s 11(2) of the Act amounting to Rs. 25,22,300/- which was disallowed by the AO on the reasoning that form 10 which was mandatory to claim for such accumulation was filed belatedly. Thus, the AO added the sum of Rs. 25,22,300/- to the total income of the assessee. 4. Aggrieved assessee preferred an appeal to the Ld. CIT(A) who also confirmed the order of the AO. 5. Being aggrieved by the order of the Ld. CIT(A), the assessee is in appeal befor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ad been submitted before the assessment came to be completed. At this juncture reference may be made to the decision of the Supreme Court in the case of Nagpur Hotel Owners' Association (supra) on which reliance had been placed by the learned counsel for the revenue, wherein it has been held thus: "6. 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 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, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... evident from the records of the case that the respondent did not furnish the required information till after the assessments for the relevant years were completed. In the light of the above, we are of the opinion that the stand of the Revenue that the High Court erred in answering the first question in favour of the assessee is correct, and we reverse that finding and answer the said question in the negative and against the assessee." 9. Examining the facts of the present case in the light of the principles enunciated in the above decision, as noticed earlier, the assessee filed Form No. 10 under rule 17 of the Rules at the time of filing revised returns in respect of each of the assessment years under consideration. Thus, evidently, the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t. 10. The AO during the assessment proceedings found that the assessee has accumulated the sum of Rs. 15,53,217/- for the year ending 31/03/2011, but the same was not offered as income in the computation of total income in the year under consideration in pursuance to the provisions of section 11(3) of the Act. However, the assessee, on question by the AO, submitted that the amount accumulated in the earlier year for Rs. 15,53,217/- has been shown as income in the income and expenditure account in pursuance to provisions of section 11(3) of the Act. As per the assessee, out of total application of fund, in the year under consideration, the amount of Rs. 28,16,959/- includes the expenditure incurred out the fund accumulated in the earlier y ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... appellant has shown income for Rs. 15,53,217/- directly in the income & expenditure A/c. in the last year I.e fifth year which was accumulation of earlier year's (31.03.2011) as per the Balance Sheet of A.Y 2016-17. I therefore refuse to interfere with the order of the AO on this ground. 12. Being aggrieved by the order of the Ld. CIT(A), the assessee is in appeal before us. 13. The Ld. AR before us filed a paper book running from pages 1 to 26 and reiterated the contention as made before the AO during the assessment proceedings. The Ld. AR to buttress his argument has also drawn our attention on form 10 along with the resolution placed on pages 7 to 8 of the paper book demonstrating that the amount of Rs. 25,26,000/- was accumulated un ..... X X X X Extracts X X X X X X X X Extracts X X X X
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