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TMI Blog2024 (2) TMI 629X X X X Extracts X X X X X X X X Extracts X X X X ..... e allow this appeal condoning the delay in filing the Audit Report in Form No. 10B. Thus we condone the delay and restore the matter to the file of ld. CIT(A) to allow exemption u/s 11 of the Act to the assessee as per the provisions of law. Hence, the grounds of appeal of the assessee are allowed for statistical purposes. - Shri Waseem Ahmed, Accountant Member For the Assessee : Shri S.N Divatia, A.R For the Revenue : Ms. Saumya Pandey Jain, Sr.D.R ORDER PER WASEEM AHMED, ACCOUNTANT MEMBER: The captioned appeal has been filed at the instance of the Assessee against the order of the National Faceless Appeal Centre(NFAC), Delhi, arising in the matter of assessment order passed under s.143(1) of the Income Tax ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... filed 3 months after the actual date of filing of return of income on 30-03-2022. Provisions of section 12A (1) (b) requiring assessee to furnish audit report has been amended wef 01.04.2020. Requirement of furnishing audit report before the due date prescribed in section. 44AB is made mandatory wef 01.04.2020 i.e. from AY 2020-21. The assessment year under consideration being A yr 2021-22, amended provisions of section 12A (1)(b) are applicable. In the present case, section 12A (1)(b) required the appellant to file Form 10B before the due date of filing of return of income u/s 139(1) which in this case is 31.12.2021. If there is delay in filing Form 10B, delay can be regularised by making an application to CIT concerned for condonation of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s upheld. Thus grounds of appeal numbering 1 to 4 of the appellant are dismissed. 5. Being aggrieved by the order of the ld. CIT(A), the assessee is in appeal before us. 6. The ld. AR before us filed a paper book running from page 1 to 42 and submitted that the requirement of filing audit report in Form 10B is procedural in nature and therefore exemption claimed by the assessee u/s 11 cannot be denied. The ld. AR in support of his contention relied on the following orders: i. Hari Gyan Pracharak Trust vs. DCIT vide ITA No. 245/Ahd/2021 order dated 16- 06-2023. ii Shri Visha Oswal Jain Sewa Samaj vs. ITO vide ITA No. 59/Ahd/2022 order dated 11-10-2023 6.1 The ld. AR further submitted that the CBDT Circular No. 16/2020 dated 19 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y considered the order passed by the authorities below and the judgment passed by the Hon ble Jurisdictional High Court in case of Association of Indian Panelboard Manufacturer (supra) on the issue involved. While passing order in favour of the assessee, the Hon'ble Jurisdictional High Court has been pleased to observe as follows: 5.6 The Tribunal further committed an error in appreciating the import of Section 1192(b) of the Act inasmuch as the application contemplated hereunder is only a remedy for the assessee which could not be said to be compulsorily resorted to by the assessee. The circular No 7/18 dated 20.12.2018 issued under Section 119 of the Act could not be, therefore said to have taken away the appellate remedy. 5.7 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... bstantial questions of law have to be decided in favor of the appellant. 7. They are accordingly decided. The appeal is allowed. 8. In view of the ratio laid down by the Hon'ble Jurisdictional High Court holding that non filing of Audit Report along with return of income is a procedural omission and cannot be an impediment in law in claiming the exemption, we allow this appeal condoning the delay in filing the Audit Report in Form No. 10B. However, we also upon condoning the delay, restore the matter to the file of the Ld. CIT(A) to pass order in regard to the exemption claimed by the assessee strictly in accordance with law. 9. In the result, assessee's appeal is allowed for statistical purposes. 9.1 Respectfully foll ..... X X X X Extracts X X X X X X X X Extracts X X X X
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