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2022 (12) TMI 445 - AT - Income TaxDenial of exemption u/s 11 - Form 10B was filed by the assessee after filing the return of income for the year under consideration - HELD THAT:- The assessee trust is holding a valid certificate of registration u/s 12AA of the Act since 24/09/1982. In its return of income filed u/s 139(4) of the Act, the assessee claimed exemption in respect of revenue expenditure and capital expenses u/s 11 of the Act. While processing the return filed by the assessee u/s 143 (1) CPC Bangalore denied the exemption claimed u/s 11 and raised a demand - It is the plea of the assessee that Form 10B was obtained from the auditor on 15/09/2016, and due to the first year of e-filing Form 10B assessee faced some technical issues causing a delay in uploading the said Form. In the present case, it is undisputed that the assessee trust is registered u/s 12AA of the Act for the past 40 years and the said registration is still in existence. It is also not the case of the Revenue that the assessee has ceased to be a religious or charitable institution. It is also not the case of the Revenue that the accounts of the assessee have not been audited by an accountant, and an audit report in Form 10B has not been obtained. Only on the technical aspect that Form 10B was not filed along with the return of income for the relevant assessment year, the exemption claimed u/s 11 of the Act has been denied to the assessee without going into the merits. Further, no relief was granted to the assessee even when the assessee filed the application u/s 154. As in the present case also the assessee has complied with the procedural requirement of obtaining and filing Form 10B, therefore, respectfully following the aforesaid decision of the Co-ordinate Bench of the Tribunal, the AO is directed to decide the claim of the assessee u/s 11 on merits, after accepting the Form 10B filed by the assessee. Accordingly, grounds raised by the assessee are allowed for statistical purposes.
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