#Section 11(2) Income Tax Act

ITAT Delhi rules that delayed filing of Form 10 for income accumulation under Section 11(2) of the Income Tax Act does not invalidate the claim if submitted before assessment completion, provided substantive conditions are met. The decision clarifies that procedural compliance, when fulfilled before final assessment, suffices for tax exemption eligibility, offering relief to charitable trusts facing similar timelines.

ITAT Mumbai rules that charitable trusts can claim exemption under Section 11(2) of the Income Tax Act even if Form-10 is filed during assessment proceedings, provided the accumulated funds are utilized as intended. The ruling clarifies that procedural delays do not invalidate the exemption if substantive compliance is met.