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2023 (11) TMI 634 - ITAT DELHIEligibility to exemption u/s 11/12 - Belated filing of return - Denial of exemption where return of income is not furnished within time - assessee argued passing the order in undue hurry and in gross violation of the principles of natural justice inasmuch as no opportunity of personal hearing was provided to the Appellant - HELD THAT:- It is true that while denying exemption u/s 11/12 no intimation was given to the assessee which amounts to violation of principles of natural justice. It is true that the return was not filed u/s 139(1) of the Act, but it is equally true that the return was filed u/s 139(4) of the Act. Section 12A contains the conditions for applicability of sections 11 and 12 of the Act and at clause (ba), it is provided that the "person in receipt of the income has furnished return of income for the previous year in accordance with the provisions of sub-section 4A of section 139 of the Act within the time allowed under sub- section (1) or sub-section (4) of that section”. This has been inserted by the Finance Act, 2017 w.e.f. 01.04.2018 and reference to sub-section (1) or sub-section (4) is inserted by the Finance Act 2023 w.e.f 01.04.2023. Thus we are of the considered view that the assessee is very much eligible for exemption u/s 11/12 of the Act. We, therefore, direct the Assessing Officer to allow the claim of the assessee as claimed by it. Decided in favour of assessee.
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