NIDADAVOLU LIONS CHARITABLE TRUST,NIDADAVOLU vs. DCIT, VIJAYAWADA

ITA 294/VIZ/2026Status: DisposedITAT Visakhapatnam09 September 2026AY 2018-198 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the crucial condition for exemption under Section 11(2) is the filing of Form 10 within the due date, explaining the purpose of accumulation. A resolution passed after the financial year-end, but before the due date for filing Form 10, does not invalidate the claim.

What were the facts?

The assessee, a charitable trust, claimed exemption for unspent income accumulated for building construction. The Assessing Officer denied this exemption because the resolution for accumulation was passed after the financial year-end, though Form 10 was filed within the due date.

What were the issues?

Whether a resolution for accumulation of unspent income must be passed before the end of the financial year, or if filing Form 10 within the due date is sufficient for exemption under Section 11(2).

Which sections of the Income-tax Act were involved?

Section 11(2),Section 139(1)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, VISAKHAPATNAM BENCH

Before: SHRI VIJAY PAL RAO, HON’BLE & SHRI MANJUNATHA.G, HON’BLE

Hearing: 22.07.2026Pronounced: 09.09.2026

PER VIJAY PAL RAO, VP:

This appeal by the assessee is directed against the order of the Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi, dated 29.01.2026, for assessment year 2018-19. 2. The assessee has raised the following grounds of appeal: 1. Learned CIT (Appeals) erred in confirming the learned AO's view that the appellant-Trust has to pass the resolution for accumulation of unspent income of t

The order continues below.

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