https://www.taxtmi.com/caselaws?id=20153 The High Court of Rajasthan ruled in favor of the assessee in a case involving the interpretation of section 11(2) of the Income-tax Act, 1961 and rule 17 of the Income-tax Rules, 1962. The court held that the time-limit requirement for filing Form No. 10 under rule 17 was directory, not mandatory, and that the assessee was entitled to exemption for accumulated funds for charitable purposes. The Tribunal's decision to grant exemption was upheld, and the reference question was answered against the Revenue, with no costs awarded. en-us Thu, 14 Oct 1993 00:00:00 +0530 Thu, 12 Nov 2009 11:28:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20153 The High Court of Rajasthan ruled in favor of the assessee in a case involving the interpretation of section 11(2) of the Income-tax Act, 1961 and rule 17 of the Income-tax Rules, 1962. The court held that the time-limit requirement for filing Form No. 10 under rule 17 was directory, not mandatory, and that the assessee was entitled to exemption for accumulated funds for charitable purposes. The Tribunal's decision to grant exemption was upheld, and the reference question was answered against the Revenue, with no costs awarded. Case-Laws Income Tax Thu, 14 Oct 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20153