9911796707
|
Home
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2023 (10) TMI 1059 - AT - Income TaxExemption u/s 11 - Claim denied as assessee has not filed Audit Report in Form 10B along with the return - Later on the assessee filed audit report in Form 10B but since the audit report was filed after filing the return of income, CPC disallowed the exemption claimed while processing the return u/s 143(1) - assessee as filed an application for condonation of delay before the DIT(Exemptions), Hyderabad and since the delay is under consideration, the Ld. CIT(A) allowed the assessee s appeal for statistical purpose - HELD THAT - As delay in filing the Form No.10B was condoned by the Ld. CIT (Exemptions), the exemption claimed u/s 11 was granted and rectification order to that effect was passed by the Exemption Ward, Visakhapatnam. Now, since the grievance of the assessee is redressed, the assessee pleaded for withdrawal of the appeal. Therefore, have no hesitation to permit the assessee for withdrawal of the appeal.
Issues involved: Appeal against disallowance of exemption u/s 11 of the Income Tax Act, 1961 due to failure to file Audit Report in Form 10B along with the return for A.Y. 2016-17.
Summary: 1. The assessee, a Trust registered u/s 12A of the Income Tax Act, filed a return of income for A.Y. 2016-17 declaring Nil income after claiming exemption u/s 11. The exemption was disallowed as Audit Report in Form 10B was not filed along with the return. 2. The assessee filed an application for condonation of delay before DIT(Exemption), Hyderabad and appealed before CIT(A). CIT(A) allowed the appeal for statistical purpose pending the outcome of the delay condonation application. 3. Subsequently, delay in filing Form No. 10B was condoned by CIT (Exemptions) and exemption u/s 11 was granted by the Income Tax Officer. The assessee requested withdrawal of the appeal as the grievance was redressed. 4. The Tribunal permitted the withdrawal of the appeal as the delay was condoned, exemption was granted, and the grievance of the assessee was resolved. 5. Consequently, the appeal of the assessee was dismissed as withdrawn on 18th October, 2023.
|
