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Commissioner of Income Tax-II, Thane And Others Versus Mumbai Metropolitan Regional Iron And Steel Market Committee

2015 (4) TMI 512 - BOMBAY HIGH COURT

Entitlement to benefit under section 10(20) - Commissioner rejected claim for exemption under section 11 mainly for the reason that this claim was not made in the original return and that Form 10 and audit report in support of this claim are not filed before the Assessing Officer - AO directed by ITAT to take into account the registration granted under section 12AA with effect from 1st April, 2003, and the audit reports as well as the other documents filed in support thereof - Held that:- Case o .....

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evenue's understanding and the issuance of a circular. Thus, the circular contemplates condonation of delay in filing the above documents and which would enable the assessee to avail of the benefit. Filing of Form No.10 is not dispensed with. The Commissioner is only vested with powers to accept it after the specified period. This circular No.273 dated 3rd June, 1980 which has been relied upon to hold that the assessee's claim for benefit of exemption under section 11 of the Act deserved accepta .....

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C. Dharmadhikari And A. K. Menon,JJ. For the Appellant : Mr Suresh Kumar For the Respondents : Ms Aarti Sathe & Mr Kalpesh Turalkar ORDER P.C. 1. These two appeals of the Revenue arise out of a common order of the Tribunal delivered in Income Tax Appeal Nos.931 of 2012 and 1569 of 2012. These appeals were dealt with by the Pune Bench the Tribunal. The assessments years are 2004-05 and 2005-06.]cjvfyuhtww 2. Mr. Suresh Kumar submits that the appeals raise substantial questions of law. They ar .....

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ection 11 of the IT Act. Though the application was filed on 26th March, 2007, the registration was claimed with effect from 1st April, 2003. That application was allowed by the Commissioner of Income Tax but the registration was granted prospectively, namely, from 1st April, 2006. The assessee was not satisfied with this partial relief and approached the Tribunal. The Tribunal directed the Commissioner of Income Tax to condone the delay in filing the application and consider grant of registrati .....

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was filed along with Form No.10 before the Commissioner of Income Tax (Appeals) and claim for exemption under section 11 was made for the first time before the Commissioner of Income Tax (Appeals) in respect of assessment year 2005-06. The Commissioner rejected this claim for exemption under section 11 mainly for the reason that this claim was not .jmade in the original return and that Form 10 and audit report in support of this claim are not filed before the Assessing Officer. The assessee car .....

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ome Tax Appellate Tribunal to take into account the registration granted under section 12AA of the IT Act with effect from 1st April, 2003, and the audit reports as well as the other documents filed in support thereof. 3. Mr. Suresh Kumar submits that this view of the Tribunal is not in consonance with the law laid down by the Hon'ble Supreme Court in the case of Commissioner of Income Tax vs. Nagpur Hotel Owners Association, 247 ITR 201. Further, there is no compliance made with the Revenue .....

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sessing Officer and to make a de novo assessment. It held that at that time the Form 10, audit reports and documents were already on record of the Assessing Officer. If the assessee was required to file Form 10 and other documents before the completion of the assessment and in this case there is only a technical plea raised by the Revenue, then, that should not take away a benefit accruing to the assessee in law. The Tribunal has neither disregarded the judgment of the Hon'ble Supreme Court .....

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