Mere Filing of Form 10 Cannot Create Taxable Income: Bangalore ITAT Deletes ₹2 Crore Addition Against Educational Trust

Academy for Technical & Management Excellence Vs DCIT (ITAT Bangalore) Mere Filing of Form 10 Cannot Create Taxable Income: Bangalore ITAT Deletes ₹2 Crore Addition Against Educational Trust The Bangalore ITAT held that merely because a charitable trust filed Form No. 10 for accumulation under section 11(2), it cannot be presumed that the trust earned undisclosed income of ₹2 crore. In the absence of any evidence showing actual receipt of such income, the addition was unsustainable. The assessee-trust, which runs educational institutions, had filed its return claiming exemption under s...