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2023 (3) TMI 148 - AT - Income TaxExemption u/s 11 and 12 - delay for filing form 10B - exemption denied on non-furnishing the audit report in Form-10 alongwith return of income or before filing of return of income - HELD THAT:- As decided in Trust for Reaching The Unreached Through Trustee [2021 (2) TMI 185 - GUJARAT HIGH COURT] held that when the assessee trust substantially satisfied the condition for availing benefit of exemption as trust, exemption cannot be denied merely on bar of limitation in furnishing audit report in Form-10. Assessee has substantially satisfied all the conditions for availing the benefit of exemption under Section 11/12 of the Act and except for filing audit report in Form 10B, which was filed belatedly, thus respectfully following the decision of Hon'ble Jurisdictional High Court, the grounds of appeal raised by assessee are restored back to the file of Assessing officer to verify the contents of Form 10 for all the assessment years and grant necessary exemptions by passing the order in accordance with law. Appeal of the assessee is allowed for statistical purposes.
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