https://www.taxtmi.com/caselaws?id=790337 Delay in filing Form No. 10 for claiming accumulation under Section 11(2) of the Income-tax Act, 1961 can be condoned under Section 119(2)(b) where the omission is bona fide, reasonable cause is shown, and refusal would cause genuine hardship. The Bombay High Court applied a liberal, equitable and justice-oriented approach, noting that the assessee had otherwise complied with exemption requirements and had furnished Form No. 10 before completion of assessment, amounting to substantial compliance. The Court therefore condoned the 430-day delay, set aside the rejection of the condonation application, and directed the authorities to give effect to the condonation while processing the return in accordance with law. en-us Mon, 20 Apr 2026 00:00:00 +0530 Thu, 23 Apr 2026 09:45:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=790337 Delay in filing Form No. 10 for claiming accumulation under Section 11(2) of the Income-tax Act, 1961 can be condoned under Section 119(2)(b) where the omission is bona fide, reasonable cause is shown, and refusal would cause genuine hardship. The Bombay High Court applied a liberal, equitable and justice-oriented approach, noting that the assessee had otherwise complied with exemption requirements and had furnished Form No. 10 before completion of assessment, amounting to substantial compliance. The Court therefore condoned the 430-day delay, set aside the rejection of the condonation application, and directed the authorities to give effect to the condonation while processing the return in accordance with law. Case-Laws Income Tax Mon, 20 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=790337