ASSOCIATIONOF CORPORATIONS & APEX SOCIETIS & HANDLOOMS vs. ASSISTANT DIRECTOR OF INCOME TAX

ITA - 524 / 2012HC Delhi10 January 20137 pages
For Petitioner: RAJAT NAVET
AI SummaryPartly Allowed

What did the High Court hold?

The Tribunal held that Form-10 could be filed during reassessment proceedings, allowing the claim for those years. However, for the year where Form-10 was filed only before the Tribunal, the claim was rejected.

What were the facts?

The assessee claimed accumulation of income under Section 11 of the Income Tax Act. Form-10, required for this claim, was filed during reassessment proceedings for some years and before the Tribunal for another year.

What were the issues?

Whether Form-10 can be furnished during reassessment proceedings to claim exemption under Section 11, and whether filing before the Tribunal is permissible.

Which sections of the Income-tax Act were involved?

Section 11,Section 147

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Cases cited in this judgment(1)Show list

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Cause title — parties, addresses and appearances
ITA Nos.523/2012, 524/2012, 525/2012 & 526/2012 Page 1 of 7 THE HIGH COURT OF DELHI AT NEW DELHI % Judgment delivered on: 10.01.2013 + ITA 523/2012 + ITA 524/2012 + ITA 525/2012 + ITA 526/2012 ASSOCIATION OF CORPORATION & APEX SOCIETIES OF HANDLOOMS ..... Appellant Versus ASSISTANT DIRECTOR OF INCOME TAX ..... Respondent Advocates who appeared in this case: For the Appellant : Mr Rajat Navet and Mr Kushagra Pandit, Advs. For the Respondent : Mr Sanjeev Sabharwal, sr. standing counsel with Mr Puneet Gupta, jr. standing counsel with Ms Gayatri Verma, Adv. CORAM:- HON’BLE MR JUSTICE BADAR DURREZ AHMED HON’BLE MR JUSTICE R.V.EASWAR

JUDGMENT

BADAR DURREZ AHMED, J (ORAL) CM 15411/2012 in ITA No.524/2012 CM 15423/2012 in ITA No.525/2012 CM 15434/2012 in ITA No.526/2012

Exemption is allowed subject to all just exceptions. The applications are disposed of. 2013:DHC:158-DB

ITA Nos.523/2012, 524/2012, 525/2012 & 526/2012 ITA No.524/2012 ITA No.526/2012

These appeals w

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