Genuine Hardship Justifies 338-Day Delay in Form 10 Filing: Bombay HC

Columbia Global Center in India Vs ITO (Exemptions) (Bombay High Court) The Bombay High Court addressed a writ petition challenging the rejection of an application for condonation of delay in filing Form No. 10 for Assessment Year 2018-19. The petitioner, a charitable institution, had filed its Income-tax Return on 22nd October 2018, claiming exemption under Section 11 and seeking accumulation of income amounting to Rs.1,15,95,743 under Section 11(2) of the Income-tax Act, 1961. The accumulation was in accordance with a Board Resolution and reflected in Form No. 10B, as required under Section ...