https://www.taxtmi.com/caselaws?id=180125 The High Court ruled that sec. 10(26AAB) of the Act had prospective operation from 01.04.2009, not retrospective as initially held by the Tribunal. The issue of deduction of accumulated amount u/s 11(2) of the Act was contentious due to Form No.10 not being filed with the return of income. The Assessing Officer's rejection was upheld by the CIT(A) based on non-compliance grounds. However, the Tribunal set aside the CIT(A) orders, directing a reexamination by the Assessing Officer for a decision in accordance with the law. The appeals were partly allowed for statistical purposes. en-us Thu, 08 Nov 2012 00:00:00 +0530 Thu, 17 Mar 2016 11:30:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180125 The High Court ruled that sec. 10(26AAB) of the Act had prospective operation from 01.04.2009, not retrospective as initially held by the Tribunal. The issue of deduction of accumulated amount u/s 11(2) of the Act was contentious due to Form No.10 not being filed with the return of income. The Assessing Officer's rejection was upheld by the CIT(A) based on non-compliance grounds. However, the Tribunal set aside the CIT(A) orders, directing a reexamination by the Assessing Officer for a decision in accordance with the law. The appeals were partly allowed for statistical purposes. Case-Laws Income Tax Thu, 08 Nov 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180125