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Income Tax Appellate Tribunal, LUCKNOW BENCH ‘B’, LUCKNOW
Before: SHRI A. D. JAIN & SHRI T. S. KAPOOR
I.T.A. No.198/Lkw/2018 Assessment Year:2016-17 1
IN THE INCOME TAX APPELLATE TRIBUNAL LUCKNOW BENCH ‘B’, LUCKNOW
BEFORE SHRI A. D. JAIN, VICE PRESIDENT AND SHRI T. S. KAPOOR, ACCOUNTANT MEMBER
ITA No.198/Lkw/2018 Assessment Year:2016-17
Vikrant Educational Trust, Vs. Income Tax Officer (Exemptions), 32A, Chandra Lok, Aliganj, Lucknow. Lucknow. PAN:AABTV 6124 D (Appellant) (Respondent)
Appellant by Shri Shyam Lal, F.C.A. Respondent by Shri C. K. Singh, D.R. Date of hearing 16/07/2019 Date of pronouncement 19/07/2019
O R D E R PER T. S. KAPOOR, A.M.
This is an appeal filed by the assessee against the order of learned CIT(A)-4, Lucknow dated 10/01/2018 pertaining to assessment year 2016- 2017.
In this appeal the assessee has taken various grounds of appeal however, the crux of the grounds of appeal is the action of learned CIT(A) by which he has upheld the action of the Assessing Officer in not allowing benefit of accumulation u/s 11(2) of the Act.
At the outset, Learned A. R. submitted that the authorities below have not given benefit of accumulation u/s 11(2) of the Act as there was a delay in filing Form -10. It was submitted that CBDT had issued a circular in December, 2018 wherein it had allowed the benefit of accumulation u/s
I.T.A. No.198/Lkw/2018 Assessment Year:2016-17 2
11(2) if there was reasonable cause for delay in filing ITR and Form – 10 and the amount to be accumulated was invested in accordance with the provisions of section 11(5) of the Act. It was submitted that learned CIT (Exemptions), in view of these instructions, has already allowed the benefit of accumulation u/s 11(2) of the Act and therefore, there was no grievance left to the assessee.
Learned D. R. however, supported the orders of the authorities below.
We have heard the rival parties and have gone through the material placed on record. We find that originally the assessee was denied benefit of accumulation u/s 11(2) however, later on was allowed by the CIT (Exemptions) in view of the CBDT instructions regarding condonation of delay in filing Form 10. Therefore, in view of the submissions of Learned A. R., the appeal filed by the assessee has become infructuous as the assessee has already been granted the benefit of accumulation by learned CIT (Exemptions) and therefore, in view of the above, the appeal filed by the assessee is dismissed as infructuous. 6. In the result, the appeal of the assessee stands dismissed.
(Order pronounced in the open court on 19/07/2019)
Sd/. Sd/. ( A. D. JAIN ) ( T. S. KAPOOR ) Vice President Accountant Member
Dated:19/07/2019 *Singh
Copy of the order forwarded to : 1. The Appellant 2. The Respondent. 3. Concerned CIT 4. The CIT(A) 5. D.R., I.T.A.T., Lucknow Assistant Registrar