https://www.taxtmi.com/caselaws?id=779865 The HC allowed relief, directing condonation of delay and recognition of the petitioner's accumulation claim under s.11(2), finding denial would cause genuine hardship since the accumulated amount was already applied to the trust's objects and substantive compliance (board resolution, Form 10B, return) was satisfied. The court held an equitable exercise of powers under s.119(2)(b) was appropriate and that the Supreme Court decision relied on was fact-specific and inapplicable here, as the petitioner never changed its claim nor failed to meet statutory formalities. en-us Tue, 07 Oct 2025 00:00:00 +0530 Tue, 14 Oct 2025 09:39:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=779865 The HC allowed relief, directing condonation of delay and recognition of the petitioner's accumulation claim under s.11(2), finding denial would cause genuine hardship since the accumulated amount was already applied to the trust's objects and substantive compliance (board resolution, Form 10B, return) was satisfied. The court held an equitable exercise of powers under s.119(2)(b) was appropriate and that the Supreme Court decision relied on was fact-specific and inapplicable here, as the petitioner never changed its claim nor failed to meet statutory formalities. Case-Laws Income Tax Tue, 07 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=779865