9911796707
TMI Blog2024 (3) TMI 1327X X X X Extracts X X X X X X X X Extracts X X X X ..... 0 - reason given by petitioner as oversight by the trust s management - HELD THAT:- Auditor of petitioner [ Mr. Dedhia] explained that since the factum of accumulation of receipts was reported in audit report in Form No. 10B he was under bonafide impression that there was no separate requirement to file a separate statement and that provisions of Section 11(2) of the Act were complied with. He has ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... In our view, this explanation by Mr. Dedhia is a reasonable explanation and should be accepted and delay be condoned. Petition disposed. The delay in filing Form No. 10 for Assessment Year 2019-20 shall be treated as condoned. - K.R. SHRIRAM AND DR. NEELA GOKHALE, JJ. Mr. Dharan V. Gandhi for Petitioner. Mr. Dinesh Gulabani a/w Mr. Prathmesh Bhosle for Respondents-Revenue. P.C. : 1. Petitioner ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... revented it to file audit report in time as per the statutory limit. In the impugned order it is recorded that the reason given by petitioner as oversight by the trust s management cannot be considered as reasonable cause. Petitioner is a very old trust and registered in 1987. Hence, petitioner should know the rules and regulations of the Income Tax Department very well. According to Respondent No ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... provisions of Rule 17 of the Act which required a separate statement in Form No. 10 to be filed apart from the audit report in Form No.10B. Hence, he did not advise petitioner to file Form No. 10. Mr. Dedhia has also stated that only after the intimation under Section 143(1) of the Act was received on or about 5th June 2020 denying the accumulation and that too during the peak of covid pandemic, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... such steps as required including filing application under Section 154 of the Act for rectification. Should the application be filed within two weeks from the date this order is uploaded, the delay, if any, in filing an application under Section 154 of the Act shall also be considered as having been condoned. 9. We clarify that we have not made any observations on the merits of the matter. - - ..... X X X X Extracts X X X X X X X X Extracts X X X X
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