9911796707
TMI Blog2024 (7) TMI 827X X X X Extracts X X X X X X X X Extracts X X X X ..... follows: 1. The appellate order of the learned Commissioner of Income-tax [Appeals] - NFAC, Delhi passed under Section 250 of the Act dated 29/06/2023 for the impugned assessment year 2017-18, in so far as it is against the Appellant is opposed to law, weight of evidence, probabilities, facts and circumstances of the Appellant's case, requires to be quashed. 2. The appellant denies itself liable to be assessed on total income of Rs. 4,00,00,000/- as determined by the learned assessing officer and upheld by the learned Commissioner of Income-tax [Appeals], as against the income reported by the appellant of Rs. NIL/-, on the facts and circumstances of the case. 3. The learned Commissioner of Income-tax [Appeals] is not justified in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ction 11 [2] of the Act, is only directory in nature and not mandatory as per the intent of the statute, on the facts and circumstances of the case. 7. The learned Commissioner of Income-tax [Appeals] and the learned assessing officer further failed to appreciate that the provisions of section 11 [2] of the Act is a beneficial provision and a liberal view has to be taken, on the facts and circumstances of the case. 8. The learned Commissioner of Income-tax [Appeals] and the learned assessing officer failed to appreciate that the appellant has filed the return of income well within the time allowed as per section 139(4) of the Act and thus they ought to have appreciated that the provisions of section 139(4) has to be rad along with secti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e wrong on the facts of the case. 12. The appellant craves leave of this Hon'ble Tribunal to add, alter, amend, substitute or delete any or all of the grounds of appeal urged above at the time of hearing of the appeal by this Hon'ble Tribunal. 3. Brief facts of the case are as follows: Assessee is a charitable trust. For the Assessment Year 2017-18, return of income was filed declaring Nil income after claiming exemption under section 11 of the Act. The Trust was granted registration under section 12A of the Act, vide order dated 25.11.2018. Assessee had filed Form 10 beyond the due date and had sought accumulation of income under section 11(2) of the Act which was in contravention of section 13(9) of the Act. The AO disallowed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... order passed by the CIT(E) condoning the delay in filing Form 10, copy of the application for condonation of delay in filing the return of income before the PCCIT (E), Delhi, etc. 6. The learned AR submitted that the sole reason for not granting the benefit of accumulation of income under section 11(2) of the Act was on account of assessee not having filed the return of income within the due date specified under section 139(1) of the Act. In this context, the learned AR submitted that assessee has filed the application for condonation of delay in filing the return of income and the same is pending consideration. It was submitted that the matter may be restored to AO to take a decision subsequent to the order passed on the application for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ase of ITO (E), Trichy Vs. Ms/. Papathiyammal Pitchai Education Trust (supra), had restored the matter to AO and directed the AO to take a decision after the outcome of the condonation petition filed by the assessee. The relevant finding of the Chennai Bench of the Tribunal reads as follows: "5. We are of the considered opinion that though the assessee has valid registration u/s 12AA, still, it has to comply with the mandatory requirements of law to lay claim on impugned deduction. The law mandates the assessee to file return of income within due date as prescribed u/s 139(1) along with Form No.10B so as to lay claim on this deduction. Certainly, the assessee has defaulted in the same. Now, Ld. AR has submitted evidences of seeking releva ..... X X X X Extracts X X X X X X X X Extracts X X X X
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