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2023 (7) TMI 293 - AT - Income TaxExemption u/s. 11 - late filing of Audit Report u/s. 12A(1)(b) in the prescribed Form 10B - As per assessee it is a sufficient compliance with the procedure, if the Audit Report u/s. 12A(1)(b) is filed at any stage before the completion of assessment or even at the appellate stage - whether it is permissible to the assessee to produce the audit report at the appellate stage? - HELD THAT:- As decided in the case of CIT Vs. Gujarat Oil & Allied Industries Ltd. [1992 (9) TMI 67 - GUJARAT HIGH COURT] the provisions regarding furnishing of audit report along with the return has to be treated as a procedural provision. It is directory in nature and its substantial compliance would suffice. Benefit of exemption should not be denied merely on account of delay in furnishing the same. Also see SOCIAL SECURITY SCHEME OF GICEA case [2022 (12) TMI 1172 - GUJARAT HIGH COURT] No hesitation in confirming the order passed by Ld. CIT(A) who has directed JAO to verify the Form No. 10B and allow the claim of exemption u/s. 11 and compute the total income. Decided in favour of assessee.
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