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2024 (3) TMI 206 - ITAT VISAKHAPATNAMExemption u/s 11 - Claim denied as assessee filed Form 10B beyond the time limits specified u/s 139(1) - assessee is a registered Trust u/s 12A - AR has submitted that the assessee filed Form 10B within the time limit prescribed u/s 139(1) and time limit prescribed for the A.Y. 2018-19 was 31.07.2018 - HELD THAT:- On verification of the acknowledgement filed by the assessee, it is clear that the assessee filed Form 10B on 31.07.2018 i.e. on the last day of due date of filing of Form 10B. But the revenue authorities have not at all considered the filing of Form 10B and erroneously denied the exemption claimed by the assessee u/s 11 of the Act. It is also undisputed fact that the assessee is a registered Trust u/s 12A of the Act. Therefore, we set aside the orders passed by the revenue authorities and direct the AO to allow the exemption claimed by the assessee u/s 11 of the Act, after verification of the claim. Accordingly, the grounds raised by the assessee are allowed.
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