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2024 (6) TMI 1027 - AT - Income TaxIssues: The appeal against the order of the ld. Commissioner of Income-tax, Appeal, Addl/JCIT (A)-1, Chennai regarding denial of deductions for applications and accumulation u/s 11 for the assessment year 2020-21. Issue 1: Denial of Deductions for Applications and Accumulation u/s 11 The appeal was filed against the order of the ld. CIT(A) dated 31.01.2024, dismissing the appeal in relation to the denial of deductions for applications and accumulation u/s 11 for the assessment year in question. The ld. CIT(A) based the dismissal on the delay in filing Form No. 10B, which was electronically filed after the due date of 15.01.2021. The appellate authority did not have the power to consider the case for condonation of the delay in filing Form No. 10B, resulting in the dismissal of the appeal. Issue 2: Condonation of Delay in Filing Form 10B The assessee submitted an application on 12.12.2023 before the Jurisdictional Ld. Commissioner of Income-tax (Exemption), Kolkata, seeking condonation of the delay in filing Form 10B for the assessment year 2020-21. The Ld. Commissioner of Income-tax (Exemption), Kolkata, passed an order on 14.05.2024, under section 119(2)(b) of the Act, condoning the delay in filing the audit report in Form No. 10B. The delay of sixty-six days in filing Form 10B was considered and condoned, as per the CBDT Circular No. 2/2020. Judgment Summary: The ITAT Kolkata allowed the appeal for statistical purposes, setting aside the issue to the file of the assessing officer, ADIT, CPC, Bengaluru, to consider the order condoning the delay in filing the audit report in Form No. 10B. The directions were given to allow the deductions for applications and accumulation u/s 11 of the Act as claimed by the assessee for the assessment year 2020-21. The delay of sixty-six days in filing Form 10B was condoned by the Ld. Commissioner of Income-tax (Exemption), Kolkata, leading to the allowance of the appeal for statistical purposes.
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