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2022 (11) TMI 1173 - AT - Income TaxExemption u/s 11 - non-furnishing of audit report in Form 10B through electronic mode - whether willful or intentional delay on the part of assessee? - HELD THAT:- CBDT’s Circular No. 2/2020 stated that CIT(A) has power for condoning belated application in filing Form No. 10B wherever the assessee was prevented by reasonable cause for filing of such applications within the stipulated time. In the present case before us, the delay is due to bonafide mistake on the part of the assessee which could be condoned as there is a strong reason on the part of assessee. Since the assessee is neither negligent nor willful defaulter in filing Form No. 10B within stipulated time prescribed under law and it was happened due to bonafide mistake on the part of the assessee. Hence, we reverse the orders of lower authorities, condone the delay in filing Form No. 10B and direct the AO to accept the audit report in form No. 10B. Appeal of the assessee is allowed.
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