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TMI Blog2024 (11) TMI 1415X X X X Extracts X X X X X X X X Extracts X X X X ..... [ 2023 (3) TMI 1374 - GUJARAT HIGH COURT] held that although the requirement of furnishing report was mandatory, filing there of is a procedural aspect. Even though the Form 10B was filed at a later stage, when it was part of the record of the AO in course of the processing of the return of income, the AO could not have denied the exemption claimed by the assessee u/s 11(1) and 11(2) on the ground ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or Assessment Year (AY) 2019-20. 2. The Assessee has taken following grounds of appeal:- 1. The Ld. CIT(A) has erred in law and on facts of the case in confirming the action of the Ld. AO in disallowing exemption of Rs.10,67,766/- u/s. 11 of the Act. 2. The Ld. CIT(A) has erred in law and on facts of the case in confirming disallowance solely based on the non-filing of audit report along with the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s erred in law and on facts of the case in confirming the action of the Ld. AO in levying interest u/s. 234B/C of the Act. 6. The Appellant craves leave to add, amend, alter, edit, delete, modify, or change all or any of the grounds of appeal at the time of or before the hearing of the appeal. 3. In this case, the return of income has been filed on 27.08.2019, whereas the Form No. 10B was filed on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rm No. 10B has not been filed. Form 10B was available by the time the order of the ld. CIT(A) was passed who could have considered the factum of filing of FORM 10B. Keeping in view the judgement of Hon ble jurisdictional High Court, we hold that the assessee is eligible for deduction u/s 11 of the Act as the Form 10B has been duly filed. 5. In the result, the appeal of the Assessee is allowed. The ..... X X X X Extracts X X X X X X X X Extracts X X X X
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