9911796707
TMI Blog2024 (7) TMI 1336X X X X Extracts X X X X X X X X Extracts X X X X ..... d 29/04/2024 passed by the learned Commissioner of Income Tax (Appeals)- National Faceless Appeal Centre (NFAC), Delhi ("Ld. CIT(A)"), in the case of Touchalife Foundation India ("the assessee") for the assessment year 2022-23, assessee preferred this appeal. 2. Assessee is a company limited by shares not-for-profit filed under section 8 of the Companies Act, 2013. Its case is that while filing t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Act in the absence of audit report filed after due date prescribed under section 139(1) of the Act, and accordingly dismissed the appeal of the assessee. 3. Hence the assessee filed this appeal contending that the requirement of filing Form 10B is merely directory in nature and failure to furnish the same before the due date prescribed in section 139(1) of the Act cannot be so fatal as to deny t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing of the audit report and it is only on such condonation of the delay, the issue will be decided on merits by the Commissioner of Income Tax (Appeals). Ld. DR submitted that the assessee did not resort to such a procedure contemplated under the Circular and therefore, the CPC rightly disallowed the exemption claimed by the trust under section 11(2) of the Act. 5. I have gone through the record ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Charitable Trust (supra) wherein, after reviewing the entire case law on this aspect, in unequivocal terms, it was held that the requirement of filing Form 10/10B is merely directory in nature and failure to furnish Form 10/10B before the due date prescribed under section 139(1) of the Act cannot be so fatal as to deny the claim of exemption under section 11(2) of the Act, especially when Form 10 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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