9911796707
TMI Blog2024 (9) TMI 476X X X X Extracts X X X X X X X X Extracts X X X X ..... the Act, the return must be filed in accordance with the provisions of section 139(4A). However section 12A(1)(ba) have been inserted w.e.f. 01/04/2018 i.e. applicable w.e.f. A.Y. 2018-19 only and hence the same is not applicable to the year under consideration. Therefore, due to delay in filing of ROI for the year under consideration also, there cannot be any denial of exemption u/s.11 of the Act. Hence we are of the considered opinion that the assessee is eligible for exemption u/s. 11 - Appeal of the assessee allowed. - Shri K. Narasimha Chary, Judicial Member And Shri Madhusudan Sawdia, Accountant Member For the Assessee : Shri K.C. Devdas, Advocate For the Revenue : Shri Madan Mohan Meena, DR ORDER PER MADHUSUDAN SAWDIA, A.M: This ap ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... running orphanage school, filed its return of income ( ROI ) on 20/04/2015 and Form 10B on 22.04.2015 claiming exemption u/s. 11 of the Income Tax Act, 1961 ( the Act ) and declaring the total income at NIL. The ROI of the assessee was processed by the Central Processing Centre, Income Tax Department, Bengaluru ( CPC ) u/s. 143(1) of the Act on 16.03.2016 and the total income was determined at Rs. 82,83,576/- by denying the exemption claimed u/s. 11 of the Act. 4. Feeling aggrieved by the order of CPC, the assessee filed an appeal before the Ld. First Appellate Authority. The Ld. First Appellate Authority also dismissed the claim of the assessee contending that the ROI as well as Form No.10B had been filed by the assessee after the due dat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ified under the Act and finally raised a demand of Rs. 34,47,810/-. The Ld. AR further submitted that the revenue authorities didn't allow the exemption u/s 11 of the Act on the ground that the Form 10B and ROI were not filed within the due date. As far as the delay in filing of Form 10B is concerned the Ld. AR submitted that the assessee had applied for condonation of delay for filing of Form 10B before the Ld. CIT(E) and the Ld. CIT(E) has condoned the delay for filing of Form 10B vide his order dated 06/08/2024 . Therefore, on this issue there should not be any denial of exemption u/s 11 of the Act. With regards to delay in filing of ROI, the Ld. AR submitted that section 12A(1)(ba) stipulates that, to claim exemption u/s 11 of the A ..... X X X X Extracts X X X X X X X X Extracts X X X X
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