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2023 (10) TMI 559 - AT - Income TaxExemption u/s 11 and 12 - assessee failed to file the Audit Report in Form 10B along with the Return of Income - HELD THAT:- It is no more res integra that filing of Form 10B as required u/s. 12A are directory in nature, as such the Assessing Officer are not powerless to allow an assessee to file Audit Report, if not filed along with return, any time before completion of assessment and also before Appellate Authorities. In the present case before us Audit Report in Form 10B though filed belatedly by the assessee, the same was not considered by the Ld. NFAC and Ld. A.O. Thus none of the authorities had any occasion to verify Audit Report in Form 10B belatedly filed by the assessee. Further there is no regular assessment order passed u/s. 143(3) of the Act in the case of the Assessee Trust. Therefore we hereby direct the Jurisdictional AO to verify the Audit Report in Form No. 10B and then allow the claim of exemption u/s. 11 of the Act, in accordance with law by giving adequate opportunity to the assessee. Thus the grounds raised by the assessee are hereby allowed.
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