Form No.10 for income accumulation can be submitted by a trust either on assessment or re-assessment

HIGH COURT OF DELHI Association of Corporation & Apex Societies of Handlooms Versus Assistant Director of Income-tax IT APPEAL NOS. 523 TO 526 OF 2012 CM NOS. 15411, 15423 & 15434 OF 2012 JANUARY 10, 2013 ORDER 1. These appeals were admitted for hearing by an order dated 04.09.2012 on the following substantial questions of law :- “(i) Was the Tribunal correct in holding that the sum of Rs. 9.80 crores, which accrued towards interest on Fixed Deposits, made by the Assessee (to secure the bank guarantee amount furnished to the State of Bihar) bear the character of ...