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TMI Blog2024 (8) TMI 1476X X X X Extracts X X X X X X X X Extracts X X X X ..... ppellant is a registered Trust u/s 12A of the Act and the claim of exemption of income was denied vide order dated 18.03.2020 u/s 143(1) of the Act. 1.1. Aggrieved with this action, the appellant approached the Commissioner of Income Tax (Appeals)-11, Mumbai [hereinafter referred to as ld. 'CIT(A)'] who has mentioned in his order dated 27.03.2024 that Form-10B was not submitted within the due date, i.e. the date specified u/s 139(1) of the Act. It has been further recorded that the assessee did not avail of the liberty allowed vide CBDT Circular No. 16/2022 bearing F.No.197/89/2022-ITA-I dated 19.07.2022. This Circular authorizes the concerned Commissioners of Income Tax to admit applications for condonation of delay in filing Form ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... since filing of Form-10B is merely a procedural requirement, any defect in that is curable. It is seen that the Hon'ble Orissa High Court in the case of Oneness Educational and Charitable Trust vs. Commissioner of Income-tax (Exemption) reported in [2024] 161 taxmann.com 544 (Orissa) has held that the oversight in not filing Form-10B within the due date was to be condoned and the exemption was to be allowed and granted. Also, the Hon'ble Telangana High Court in the case of Global Organisation for Development vs. Commissioner of Income-tax (Exemption) reported in [2024] 162 taxmann.com 633 (Telangana) has held that the delay on the part of the assessee in submitting Form-10B was to be condoned and the matter remanded back to the fil ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cially when the legislature has conferred wide discretionary powers to condone such delay on the authorities concerned. [Para 6] ■ Moreover, the Petitioner does not appear to have been lethargic or lacking in bona fides in making the claim beyond the period of limitation which should have a relevance to the desirability and expedience for exercising such power. Such routine exercise of powers would neither be expedient nor desirable, since the entire machinery of tax calculation, processing of assessment and further recoveries or refunds, would get thrown out of gear, if such powers are routinely exercised without considering its desirability and expedience to do so to avoid genuine hardship. [Para 7] ■ In a similar matter i ..... X X X X Extracts X X X X X X X X Extracts X X X X
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