https://www.taxtmi.com/caselaws?id=790539 Delayed or defective filing of Form 10/10B does not, by itself, defeat a trust's claim for accumulation under section 11(2) where the substantive conditions are met. The Tribunal treated Form 10 as directory, not mandatory, and held that the trust's resolution and records adequately disclosed the purpose of accumulation. It also noted that the accumulated income had been placed in the prescribed modes under section 11(5). The disallowance based on technical non-compliance was therefore not sustainable, and the accumulation claim was allowed. en-us Fri, 27 Mar 2026 00:00:00 +0530 Mon, 27 Apr 2026 08:21:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=790539 Delayed or defective filing of Form 10/10B does not, by itself, defeat a trust's claim for accumulation under section 11(2) where the substantive conditions are met. The Tribunal treated Form 10 as directory, not mandatory, and held that the trust's resolution and records adequately disclosed the purpose of accumulation. It also noted that the accumulated income had been placed in the prescribed modes under section 11(5). The disallowance based on technical non-compliance was therefore not sustainable, and the accumulation claim was allowed. Case-Laws Income Tax Fri, 27 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=790539