Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights July 2024 Year 2024 This

Delay in filing audit report u/s 119(2)(b) was condoned. Denial ...


Delayed filing of audit report condoned. Deduction u/s 11(1) allowed despite 134-day delay in Form 10B filing. Court: Don't deny exemption for delay if eligible. Liberal exercise of power required.

Case Laws     Income Tax

July 5, 2024

Delay in filing audit report u/s 119(2)(b) was condoned. Denial of deduction u/s 11(1) due to belated filing of Form 10B by 134 days was set aside. Court held that benefit of exemption should not be denied solely for delayed filing if assessee is otherwise eligible. Filing was delayed during second Covid-19 wave, and assessee trust constituted for student welfare would suffer genuine hardship. Power u/s 119(2)(b) requires liberal exercise. Impugned order quashed, and revenue directed to receive audit report for finalizing assessment.

View Source

 


 

You may also like:

  1. The case involved the entitlement to exemption u/s 11/12 based on the filing of an audit report. Non-filing of the audit report with the return of income was considered...

  2. Exemption u/s 11 - Condonation of delay in filing the audit report in Form 10B - non filing of Audit Report along with return of income is a procedural omission and...

  3. Exemption u/s. 11 - claim denied as delay in filing audit report in Form 10B - the clarification in condoning the delay in filing Form 10B for A.Y. 2016-17 is binding on...

  4. Deduction claimed u/s 11(1)(a) - audit report was filed belatedly - in the assessment year under consideration, viz., AY 2015-16, the requirement under the Act was to...

  5. Exemption u/s 11 denied - delay in filing Form no. 10 - Department's objection that the audit report in Form no. 10B was also delayed and such delay had neither been...

  6. The ITAT Ahmedabad considered a case involving exemption u/s 11 for a trust with a belatedly filed income return. The tribunal held that the trust, registered u/s 12AA,...

  7. Exemption u/s 11/12 - audit-report (Form No. 10B) was filed belatedly after processing of return u/s 143(1) - the assessee can’t be denied the benefit of exemption u/s...

  8. Exemption u/s 11 and 12 - assessee failed to file the Audit Report in Form 10B along with the Return of Income - None of the authorities had any occasion to verify Audit...

  9. The High Court directed the respondents to allow the petitioner, a small businessman, to upload the input tax credit certificate in the web portal by condoning the delay...

  10. Condonation of delay in filing the appeal before the CIT(A) - delay of 636 days - The conduct of the assessee is such that there was clear negligence on its part and...

  11. ITAT held that denial of exemption u/s 11 due to late filing of form 10B was unjustified as the audit report was submitted before intimation u/s 143(1). Lack of mala...

  12. Condonation of delay of 17 days in filing of appeal - last two days being public holidays - Power of Jurisdiction of NCLAT to condone delay - Applicability of provisions...

  13. Penalty u/s 271B - delay in filing an audit report u/s 44AB - The delay of 29 days in filing of the tax audit report under section 44AB merited to be condoned - no penalty - HC

  14. Condonation of delay - inordinate delay of 508 days - “sufficient cause” - In case the delay is not condoned, it would amount to legalise an illegal and unconstitutional...

  15. Condonation of delay of 80 days in filing the appeal - Time Limitation - As per Section 42 of PMLA, 2002 as mentioned above, the maximum limit to condone delay is (60...

 

Quick Updates:Latest Updates