2024 (11) TMI 1100

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... n assessee who claims section 11 exemption - HELD THAT:- The instant issue is no more res-integra in light of ACIT v. Xavier Kelvani Mandal Pvt. Ltd. [ 2011 (6) TMI 863 - ITAT AHMEDABAD] wherein their lordships have already settled the same at rest in assessee s favour and against the department that such a compliance could be even made in first appellate proceedings before the CIT(A)/NFAC. Thus a .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... no. NFAC/2021-22/10245385 in proceedings u/s 250 of the Income-tax Act, 1961 ( in short the Act ). Case called twice. None appears at the assessee s behest. It is accordingly proceeded ex parte. 2. The assessee pleads the following substantive grounds in the instant appeal: On the facts and in the circumstances of the case and in law the ADDL/JCIT(A)-5. Mumbail erred in- 1. confirming the followin .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ed lower authorities action in disallowing the assessee section 11 exemption claim on the ground that it had belatedly filed its form 10B audit report dated 22.09.2022 than the due date of filing return u/s 139(1) of the Act. The Revenue s case is that this tax audit report compliance is a mandatory provision for an assessee who claims section 11 exemption. 4. We note in this factual backdrop that .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X