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TMI Blog2024 (5) TMIX X X X Extracts X X X X X X X X Extracts X X X X ..... ub-section (1) of section 142, may furnish the return for any previous year at any time before the expiry of one year from the end of the relevant assessment year or before the completion of the assessment, whichever is earlier. This amendment is with effect from 1.4.2017. Therefore, the contention of the counsel for the assessee, that the due date of filing belated return was 31.03.2018 and not 31.03.2017 is correct. CIT(A) is erred in considering the due date u/s 139(4) as 31.03.2017. From the audited financial statements and form 10B submitted by the assessee it could be seen that there are no any amounts spent by the assessee trust for the benefit of persons referred to in section 13(3) of the act. Therefore, as contented by the counsel ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dgement of Hon ble High Court of Gujarat, that non-filing of Audit Report is a procedural omission and cannot be impediment in law in claiming the exemption and condoned the delay in filing audit report in form 10B. Respectfully following the order of the co-ordinate bench [ 2024 (2) TMI 629 - ITAT AHMEDABAD] , we condone the delay in filing the form 10B. We are of the considered view that the order passed by the Ld. CIT(A) is not sustainable in the eyes of law, hence set aside the same after deleting the addition made on account of income u/s 12(2) and allowing the exemption u/s 11 of the Act to the assessee. Appeal of the assessee is allowed. - Ms. Suchitra R. Kamble, Judicial Member And Shri Makarand V. Mahadeokar, Accountant Member Fo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d to be allowed as claimed in the return of income. 3. The Ld. CIT(A) has erred by misinterpreting the provisions of section 12A. As per section 12A of the IT Act, the condition of filing the return of income before the due date in order to claim exemption u/s 11 came into effect from AY 2018-19 only. In view of the same, the disallowance of exemption because of delay in filing of return is illegal and ultra vires. 4. Without prejudice to the above ground, in any case, if the exemption u/s 11 of the Act as claimed in the return of income is upheld to be denied, the application of funds of Rs. 41,27,181/- be allowed as an expense in the hands of your appellant and the balance be taxed as per the provisions of the IT Act. 5. The order passed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ainst such addition. 7. The CIT(A) while passing order u/s 250 of the Act concluded that the assessee had not filed return of income within the due date of filing return u/s 139(9) of the Act which was 17.10.2016. He also concluded that the due date of filing belated return was 31.03.2017 and dismissed the appeal upholding the disallowance as per intimation u/s 143(1) of the Act. 8. Aggrieved by the order of CIT(A), the assessee is appeal before us. On merits 9. At the time of hearing the Counsel for the assessee explained and put forward following points for our consideration: i. The due date of filing belated return of income was 31.03.2018 and not 31.03.2017 as stated by CIT(A) in his order. He also stated that the belated return of inco ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to amendment made by the Finance Act, 2016, Section 139(4) provided that a person who has not furnished a return within the time allowed to him under sub-section (1), or within the time allowed under a notice issued under sub-section (1) of section 142, may furnish the return for any previous year at any time before the expiry of one year from the end of the relevant assessment year or before the completion of the assessment, whichever is earlier. This amendment is with effect from 1.4.2017. Therefore, the contention of the counsel for the assessee, that the due date of filing belated return was 31.03.2018 and not 31.03.2017 is correct. CIT(A) is erred in considering the due date u/s 139(4) as 31.03.2017. 13. From the audited financial stat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mode and in case response is not received within 30 days the adjustment can be made. In the present case no such notice whatsoever has been given to the assessee. 18. The assessee has also placed reliance on the decision of the coordinate bench in which it is decided, after referring the judgement of Hon ble High Court of Gujarat, that non-filing of Audit Report is a procedural omission and cannot be impediment in law in claiming the exemption and condoned the delay in filing audit report in form 10B. Respectfully following the order of the co-ordinate bench, we condone the delay in filing the form 10B. 19. In view of what has been discussed above, we are of the considered view that the order passed by the Ld. CIT(A) is not sustainable in ..... X X X X Extracts X X X X X X X X Extracts X X X X
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