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2023 (9) TMI 1029 - AT - Income TaxDeduction u/s 11 - Claim denied as audit report in Form 10B is not filed alongwith the return of income as laid down in section 12A(1)(b) - CIT(A) allowed the claim - HELD THAT:- The appellate proceedings being the continuation of assessment proceedings merely because the assessee has not furnished at the threshold i.e. furnishing the audit report along with return of income, but filed during the assessment proceedings, and available even during the appellate proceedings, it cannot be stated that the assessee has failed to comply with the provisions so as to deny substantial justice by way of granting exemption. As in a recent decision in Social Security Scheme of GICEA [2022 (12) TMI 1172 - GUJARAT HIGH COURT] in the matter of exemption provisions contained in section 11/12 of the Act, requiring filing of Form 10B alongwith return of income for claiming exemption, held the requirement of furnishing of report to be a mandatory requirement while that of filing the report alongwith return of income to be a procedural requirement. We have no hesitation in holding that the Ld. CIT(A) has rightly held the denial of exemption u/s 11 of the Act for non-filing of requisite form alongwith return of income, to be not as per law, noting the fact that the assessee did file the requisite form during regular assessment proceedings and appellate proceedings before him. Decided against revenue.
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