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TMI Blog2024 (12) TMI 70X X X X Extracts X X X X X X X X Extracts X X X X ..... ving that form No. 10B was filed by after the filling of return of income. Without realizing the fact that same was filed before processing the return under section 143(1) of Income Tax Act. 2. On the facts and the circumstances of the case and in law, Learned Assessing Officer erred in passing intimation under section 143(1) wherein Centralize Processing Centre (CPC) has denied the deduction of entire expenditure claimed towards object of the trust as will further erred in denying exemption under section 11 of the IT Act. your appellant prays for following the same. 3. On the facts and in the circumstances of the case and in law, the learned Assessing Officer erred in making the adjustment of denying the entire expenditure as well as d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y in filing the Form 10B from the CIT (Exemptions). Keeping in view of the above, I am of the opinion that the AO has rightly denied the allowing exemption of Rs. 1,19,82,645/- to the appellant. Therefore, these grounds of appeal are dismissed." 5. It is this order against which the assessee is in appeal before this Tribunal. 6. Ld. AR appearing from the side of the assessee submitted before the Bench that there is a delay of 15 days in filing of this appeal. Ld. AR furnished an affidavit explaining the reasons of delay in filing of this appeal. We are satisfied with the reasons mentioned in the application for condonation of delay which is duly supported by an affidavit. Ld. DR raised no serious objection against the delay condonation ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ncome. Ld. AR further contended that the audit report in Form 10B was also filed on 26.12.2020 which is evident from the copy of e-acknowledgement furnished before the Bench. Accordingly, it was requested by Ld. Counsel of the assessee before the Bench that the CPC erred in disallowing the exemption claimed by the assessee u/s 11 of the IT Act on the basis of a wrong fact i.e. non-filing of audit report in Form 10B along with the return of income. Alternatively, it was also submitted that even otherwise also, all the expenses claimed by the assessee were required to be allowed by the CPC. On the basis of above facts and circumstances, Ld. AR requested before the Bench that the CPC as well as Ld. Addl./JCIT(A)-1, Jaipur both erred in disallo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ntion of audit report in the said return. 10. However, at the same time we also find that the extended date for filing of audited return was 15th February, 2021 and admittedly the books of accounts of the assessee trust were audited and specified audit report in Form 10B was also obtained and the same audit report was filed through e-portal on 26.12.2020 i.e. on the same date on which income tax return was also uploaded. It is worthwhile to mention here that to claim the benefit of exemption u/s 11 & 12 the assessee was required as per section 12(1)(b)(ii) to furnish the audit report before the specified date referred to in section 44AB of the IT Act. As per section 44AB, Explanation (ii), the specified date means date of one month prior t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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