TMI Blog2023 (3) TMI 349X X X X Extracts X X X X X X X X Extracts X X X X ..... was a reasonable cause for the delay. In assessee s case the year under consideration is AY 2017-18 and therefore, we see merit in the argument of the ld. A.R. that the delay is condoned by the circular and that there is no requirement to file condonation application. Accordingly, we hold that the ld. CIT(A) denying the deduction claimed on this ground is not correct. Assessee has obtained the audit report dated 1.6.2017 and has filed the same, though not along with the return of income, on 28.8.2017 which date is well before the due date u/s 139(1) i.e. 31.10.2017. Therefore, in our view, assessee s case is covered under para 4(i) of the CBDT Circular (supra) where by the delay in filing Form 10B is condoned. We therefore, of the opi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aning of the provisions of section 11(1) of the Act at Rs.8,94,452 by CPC and further without affording the Appellant a reasonable opportunity of being heard under the facts and circumstances of the case. 5. The learned CIT(A) erred in law in denying the Appellant's claim towards the Voluntary contribution forming part of Corpus fund of Rs. 39,45,774 holding that the Appellant has delayed in furnishing the Form-1 OB under the facts and circumstances of the case. 6. The learned CIT(A) is not justified in upholding the action of CPC in denying the Appellant's claim of exemption under section 11(1) of the Act wherein the return of income has been filed on 22/08/2017 relying on Form 10B dated 01/06/2017 issued by the Accountan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... received a sum of Rs.59,63,011/- and also corpus receipts of Rs.39,45,774/- aggregating to Rs.99,08,785/-. Out of this, the assessee claimed Rs.58,02,497/- as application towards the objects of the trust and Rs.39,45,774/- towards capital expenses. The assessee accumulated an amount of Rs.8,94,452/- u/s 11(1) of the Income-tax Act,1961 ['the Act' for short]. The assessee had obtained the certificate towards application of funds from a Chartered Accountant in Form 10B which the assessee filed separately on 28.8.2017. 4. The assessee s return was processed by the Centralized Processing Centre (CPC) u/s 143(1) of the Act. The CPC while processing the return denied the claim towards application of funds amounting to Rs.97,48,271/- t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uent assessment years. In the present case, the assessee did not mention anything about condonation petition in its written -submission. It is not known whether the assessee has filed a petition for condonation of delay before the Commissioner (Exemptions) requesting to condone the delay of 6 days in filing of Form No.10B. It is not known whether the delay in filing audit report in Form 10B was condoned by the Commissioner of Income Tax (Exemptions) or not. 7. The assessee is in appeal before the Tribunal against the order of ld. CIT(A). 8. The ld. A.R. reiterated the submissions made before the lower authorities. The ld. A.R. drew our attention to para 4(i) of the CBDT Circular (supra) and submitted that the delay in filing Form 10B ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ee. 4. Accordingly, in supersession of earlier Circular/Instruction issued in this regard, and with a view to expedite the disposal of applications filed by such trusts or institutions for condoning the delay in filing Form No. I OB and in exercise of the powers conferred under section 119(2) of the Act, the Central Board of Direct Taxes hereby directs that; (i) The delay in filing of Form No. I0B for AY 2016-17 and AY 2017-18, in all such cases where the Audit Report for the previous year has been obtained before the filing of return of income and has been furnished subsequent to the filing of the return of income but before the date specified under Section 139 of the Act is condoned (ii) In all other cases of belated applic ..... X X X X Extracts X X X X X X X X Extracts X X X X
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