Bombay HC Condones 430-Day Delay in Filing Form 10 for Section 11 Exemption

Bombay Prathana Samaj Vs Union of India and Ors. (Bombay High Court) Delay in Filing Form No. 10 for Section 11 Accumulation Condoned; CBDT Directed to Accept Belated Application in Interest of Substantive Justice The Petitioner is a public charitable trust. It claimed exemption under section 11 of the Income Tax Act. For AY 2015-2016; it claimed accumulation under section 11(2). Same was denied on the ground that Form No.10 was not filed. It filed Form No.10 belatedly. It applied seeking condonation of delay under section 119(2)(b) of the Act; before the CBDT. The same came to be rejected. He...