11. Associated Chambers of Commerce and Industry of India vs. DCIT:
[2025] 473 ITR 696 (Del.):
A. Y. 2016-17: Date of order 5th August, 2024:
Ss.11(2), 147, and 148A of ITA 1961
Reassessment — Condition precedent — Reason to believe that income has escaped assessment — Delay in submitting Form 10 for accumulation of income — Not a ground for re-assessment.
Charitable purpose — Requirement of digital submission of Form 10 for accumulation of income — Board Circular acknowledging difficulties of assessee’s in uploading form — Failure to file in time — No dispute as to genuineness of claim — Re-assessment not justified.
Charitable purpose — Requirement of digital submission of Form 10 for accumulation of income — Matter of procedure Failure to file in time — No dispute as to genuineness of claim —Re-assessment not justified:
The Assessee is a company registered u/s. 8 of the Companies Act and holds registration u/s. 12AA of the Act. Re-assessment proceedings were initiated against the assessee for the A. Y. 2016-17 on account of failure t