https://www.taxtmi.com/caselaws?id=413457 The Tribunal allowed the assessee's appeal, directing the Assessing Officer to grant exemption under Section 11(1A) for reinvesting the sale consideration in acquiring another capital asset. It held that the AO erred in not considering the detailed reasons provided by the assessee. Additionally, the Tribunal emphasized that procedural lapses and technical glitches in filing Form 10 should not hinder the accumulation of income under Section 11(2). The Tribunal set aside the CIT(A)'s order and instructed the AO to consider Form 10 and other evidence for allowing the benefit of accumulation of income. en-us Fri, 08 Oct 2021 00:00:00 +0530 Tue, 12 Oct 2021 09:29:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=413457 The Tribunal allowed the assessee's appeal, directing the Assessing Officer to grant exemption under Section 11(1A) for reinvesting the sale consideration in acquiring another capital asset. It held that the AO erred in not considering the detailed reasons provided by the assessee. Additionally, the Tribunal emphasized that procedural lapses and technical glitches in filing Form 10 should not hinder the accumulation of income under Section 11(2). The Tribunal set aside the CIT(A)'s order and instructed the AO to consider Form 10 and other evidence for allowing the benefit of accumulation of income. Case-Laws Income Tax Fri, 08 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=413457