9911796707
TMI Blog2024 (7) TMI 284X X X X Extracts X X X X X X X X Extracts X X X X ..... ld not be denied only on the ground of belated filing, if the assessee concerned is otherwise eligible for such exemption - HELD THAT:- The petitioner has placed on record proof of filing of the return of income for assessment year 2020-2021 on 31.05.2021. Such return refers to the deduction under Section 11 (1) of the Income Tax Act. The acknowledgment of receipt of Form 10B is also on record. This document indicates that it was filed on 31.01.2021. Therefore, the period of delay, as regards filing of the audit report, should be treated as about 134 days and not 960 days. The filing of the return of income as well as the audit report was in May 2021 when the second wave of the Covid-19 pandemic paralysed the entire country. The petitioner ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that the petitioner is a Trust formed for the benefit of students. He further submit that the Trust has been regular in filing returns and that the Trust is entitled to exemption. By pointing out that both the returns of income and the audit report were filed on 31.05.2021, learned counsel submits that the delay in acceptance of the audit report was on account of the Covid-19 pandemic and technical glitches during the migration of the income tax e-filing services from one vendor to another. By referring to the impugned order, learned counsel submits that it is erroneously stated that Form 10B was filed on 02.09.2023 with a delay of 960 days. By inviting my attention to the acknowledgment of receipt of Form 10B, learned counsel points out t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... report, should be treated as about 134 days and not 960 days. The filing of the return of income as well as the audit report was in May 2021 when the second wave of the Covid-19 pandemic paralysed the entire country. The petitioner has stated that the Managing Trustee as well as the Auditor are senior citizens. As per judgments of this Court and other High Courts, the power under Section 119 (2) (b) is required to be exercised liberally. The main consideration is whether the assessee would suffer genuine hardship. In this case, the assessee is a trust constituted for the welfare of students. In the overall facts and circumstances, the assessee would certainly be put to genuine hardship, unless the delay in filing the audit report is condon ..... X X X X Extracts X X X X X X X X Extracts X X X X
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