2024 (10) TMI 1635

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..... d. Commissioner of Income Tax (Appeal), National Faceless Appeal Centre (NFAC), Delhi dated 26.05.2024 for the Asst. Year 2016-17 passed under section 250 of the Income Tax Act, 1961 ("the Act" for short). 2. In the appeal, the assessee has raised grounds the following grounds: 1. The order passed by lower authorities is bad in law and required to be quashed. 2. Ld. NFAC erred in law and on f .....

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..... 4C are unjustified." 3. The issue before me pertains to delayed submission of Form no. 10B which ld. counsel for the stated to be a technical default. He further submitted that ld. Bench of the ITAT, Ahmedabad rejected similar claim in the case of Association of Indian Panelboard Manufacturer Vs. DCIT, ITA No. 24 of 2022. However, the said decision of the ITAT was reversed by the Hon'ble Jurisdic .....

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..... it report is held to be substantive requirement but not the mode and stage of filing, which is procedural. Once the audit report in Form 12B is filed to be available with the Assessing Officer, before assessment proceedings take place, the requirement of law is satisfied. In that view, the Income Tax Tribunal was not justified in dismissing the appeal of the assessee. 6.1 The appellant assessee .....

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