https://www.taxtmi.com/caselaws?id=310415 ITAT Bangalore allowed the appeal of a charitable trust seeking rectification of intimation u/s 143(1). The AO had disallowed exemption u/s 11 for non-filing of Form 10 for accumulation of income. The assessee filed application u/s 154 for rectification, contending that Form 10 was prepared and accumulation was mentioned in the original return. ITAT held that intimation u/s 143(1) is not an assessment, and since there was no assessment proceeding, the AO should have accepted the rectification application. The tribunal directed the AO to allow the s 154 application and rectify the intimation. en-us Fri, 03 Aug 2018 00:00:00 +0530 Tue, 24 Oct 2023 10:31:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=310415 ITAT Bangalore allowed the appeal of a charitable trust seeking rectification of intimation u/s 143(1). The AO had disallowed exemption u/s 11 for non-filing of Form 10 for accumulation of income. The assessee filed application u/s 154 for rectification, contending that Form 10 was prepared and accumulation was mentioned in the original return. ITAT held that intimation u/s 143(1) is not an assessment, and since there was no assessment proceeding, the AO should have accepted the rectification application. The tribunal directed the AO to allow the s 154 application and rectify the intimation. Case-Laws Income Tax Fri, 03 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=310415