9911796707
TMI Blog2025 (5) TMI 1498X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee is a public charitable trust and had filed its return of income for the assessment year 2022-23 in ITR-7 on 02.11.2022 under the status of AOP/BOI by declaring Nil income after claiming exemption u/s 11 of the Act amounting to Rs.1,15,12,715/-. The said return of income was processed by CPC and vide intimation order dated 31.03.2023 a demand of Rs.50,28,260/- had been raised after denying the assessee's claim of exemption u/s 11 of the Act made in the return of income. Before passing of the intimation order u/s 143(1) of the Act, the CPC had sent communication to the assessee on 14.02.2023 intimating the proposed adjustments. 3. Aggrieved by the order of the Assessing Officer, the assessee filed an appeal before the ld. CIT(A). D ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... this technical ground. The ld. AR, in this context, has relied upon a decision of Jurisdictional Calcutta High Court in the case of CIT vs. M/s Indian Sugar Mills Association in ITAT/270/2023 dated 10.01.2024, wherein, the Hon'ble High Court has held that filing of Form 10B is a procedural provision. The relevant part of the decision is as under: "The short question falls for consideration in the instant case is whether the Principal Commissioner of Income Tax (Appeals), NFAC was justified in allowing the appeal filed by the assessee thereby condoning the delay in filing the Form 10B of the Act. The learned Tribunal after going through the facts of the case took note of the latter circular issued by the Board in Circular No. 16 of 2022 da ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rs of the authorities below. 6. After hearing rival contentions and perusing the materials available on record, we find that in the present case, audit report in Form 10B was filed on 28.09.2022 and ITR was also filed on 02.11.2022 and the said Form 10B was uploaded on 11.10.2022, whereas, as per the requirement u/s 139(1) of the Act, the Form 10B was required to be uploaded at least one month prior to the due date of filing of return i.e. on or before 07.10.2022, thus there was a small delay of only 3 days in uploading the Form 10B. We note that the delay is procedural in nature and does not go to the root of the eligibility of assessee to claim exemption u/s 11 of the Act. The Jurisdictional Calcutta High Court in the case of CIT vs. M/s ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
