TMI Blog2022 (2) TMI 775X X X X Extracts X X X X X X X X Extracts X X X X ..... uired by under Rule-17 of income-tax Rule, 1962 was not furnished. We find merit on the submission of assessee that the assessee has furnished its audit report under section 12A(1)(b) as required under Rule 17B of Income Tax Rule, 1962 prior to due date of filing its return of income on 26.08.2019. The objection of Ld. NFAC/CIT(A) that report is filed subsequently is misplaced, in fact, the date mentioned on the right side of screen shot is the date of printing the document on 10.02.2022, in fact it was uploaded on the portal of department on 26.08.2019. Considering that assessee has furnished its audit report under Form-10B well within time and the intimation u/s 143(1) is issued without verification of fact. Similarly, Ld. NFAC/CIT(A) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... i.e. assessment year (AY) 2019-20 on 26.08.2019. The assessee in its computation of income claimed exemption under section 11 of the Act. The case was processed by Asstt. Director of Income Tax, Centralized Processing Centre, Bangalore ( CPC in short) vide intimation dated 11.05.2020. The CPC / Assessing Officer while passing assessment order not allowed the exemption under section 11 of the Act. Aggrieved by the disallowance of exemption under section 11 of the Act, the assessee filed its appeal before Ld. CIT(A). the appeal of the assessee was transferred to NFAC, Delhi in terms of Notification No.76 of 2020 in S.O.3296(E) dated 25.09.2020 issued by Central Board of Direct Taxes ( CBDT in short). Before Ld. NFAC/ CIT(A) assessee filed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Ld.AR of the assessee submits that copy of acknowledgement, return of income with computation of total income and registration under section 12AA dated 27.05.1982. The assessee has also filed copy of screen shot of Income-tax portal showing the uploading the Form-10B/ Audit report. The Ld. AR of the assessee submits that the CPC/Assessing Officer before processing return of income has not verified its portal, though assessee has furnished report under Form-10B as required under Income-tax Rule-17, Income-tax Rule,1962 well in time. The Ld. NFAC/CIT(A) upheld the action of CPC/Assessing Officer by taking view that it is not clear if Form10-B was furnished by assessee as required under Rule-17 of Income-tax Rule, 1962. The Ld. AR of the ass ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Department and the lower authorities disallowed the exemption without verifying it s on record. We find merit on the submission of Ld. AR of the assessee that the assessee has furnished its audit report under section 12A(1)(b) as required under Rule 17B of Income Tax Rule, 1962 prior to due date of filing its return of income on 26.08.2019. The objection of Ld. NFAC/CIT(A) that report is filed subsequently is misplaced, in fact, the date mentioned on the right side of screen shot is the date of printing the document on 10.02.2022, in fact it was uploaded on the portal of department on 26.08.2019. Considering that assessee has furnished its audit report under Form-10B well within time and the intimation u/s 143(1) is issued without verifica ..... X X X X Extracts X X X X X X X X Extracts X X X X
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