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TMI Blog2024 (10) TMI 1635X X X X Extracts X X X X X X X X Extracts X X X X ..... take away fundamental rights - HELD THAT:- Hon'ble Jurisdictional High Court by judgment ASSOCIATION OF INDIAN PANELBOARD MANUFACTURER VERSUS THE DEPUTY COMMISSIONER OF INCOME TAX [2023 (3) TMI 1374 - GUJARAT HIGH COURT] holding that w.e.f. Astt. Year 2016-17 filing of form though mandatory in nature but procedural in nature, owing amendment made in Finance Act, 2015. In the present case, however ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... required to be quashed. 2. Ld. NFAC erred in law and on facts in deciding appeal ignoring various submissions. 3. Ld. NFAC erred in law R< and on facts in rejecting benefit u/s 11 of the Act of Rs 824380/-ignoring fact that Form 10B filed subsequently and accordingly, same is considered as technical default which does not take away fundamental rights. 4. Ld. NFAC ought to have granted benefi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d decision of the ITAT was reversed by the Hon'ble Jurisdictional High Court by judgment dated 21.3.2023 reported in (2023) 157 taxmann.com 550 (Guj) holding that w.e.f. Astt. Year 2016-17 filing of form though mandatory in nature but procedural in nature, owing amendment made in Finance Act, 2015. In the present case, however, the ld. counsel for the assessee submitted that the same has been file ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g the appeal of the assessee. 6.1 The appellant assessee has to be held to be eligible and entitled to exemptions under section 11(1) and 11 (2) of the Act and the alleged ground of non-filing of audit report alongwith return of income which was at the best procedural omission, could never to an impediment in law in claiming the exemption. 4. On the other hand, the ld.DR relied on the order of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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