2018 (6) TMI 100

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....ts Versus Mr.M.P.Senthil Kumar for Mrs.Hema Muralikrishnan For The Respondent : Mr. N. Muthukumar JUDGMENT (Judgment of the Court was delivered by K.K.SASIDHARAN, J.) The Chennai Port Trust initially filed returns for the assessment year 2006-2007 in Form No.10 within the due date treating it as a "Local Authority". Since registration under Section 12AA of the Income Tax Act was not granted ....

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....t cannot be said that the non-filing of Form No.10 by the respondent was due to oversight. The application for condonation of delay for the Assessment Year 2006- 2007 for accumulation of income under Section 11(2) was rejected. The order dated 31 December 2010 was set aside by the learned single Judge in the writ petition in W.P.No.23088 of 2011. Feeling aggrieved, the appellants have come up with....

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....r Section 12AA of the Income Tax Act. It is also a matter of record that subsequently, the respondent was given registration retrospectively. There was absolutely no delay on the part of the assessee in filing Form No.10. 5. Form No.10 prescribed under Rule 17 of the Income Tax Act indicates that it is a notice to the Assessing Officer/Prescribed Authority under Section 11(2) as regards the accum....