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TMI Blog2025 (2) TMI 776X X X X Extracts X X X X X X X X Extracts X X X X ..... ns. Therefore, the Petitioner took expedient steps. Petitioner also explained that she had nothing to gain from non-compliance. The non-compliance, if any, was due to the advice of a professional Chartered Accountant. Even the Chartered Accountant filed an affidavit explaining her bona fides and the factum of the advice. After the Petitioner became aware of the reasons, she took several steps and ultimately uploaded Form 10B electronically. Still, the application for condonation of delay has been rejected without adequate compliance with the principles of natural justice and fair play. The delay should be condoned as long as such lapse is not mala fide and the assessee has not derived any undue advantage out of his own lapse. Besides, i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... el a/w Mr. Rahul Hakani and Ms. Neelam C. Jadhav. For the Respondents: Mr. Dinesh R. Gulabani a/w Ms. Vibha D. Gulabani. ORAL JUDGMENT (PER M. S. SONAK, J.):- 1. Heard learned counsel for the parties. 2. Rule. The Rule is made returnable immediately at the request of and with the consent of the learned counsel for the parties. 3. This petition concerns assessment year 2014-2015. The Petitioner challenges the impugned orders dated 10 October 2024 and 13 November 2024 made by the first respondent rejecting the Petitioner's application for condonation of delay of 2732 days in filing Form 10B for claiming exemption under Section 11 of the Income Tax Act, 1961 ("IT Act"). 4. Admittedly, the Petitioner had obtained and filed Form 10B m ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nding to date. 8. The Petitioner was also served with a notice under Section 139 (9) on 8 January 2016 regarding the alleged non-disclosure of corpus and non-corpus fund in schedule J. To remedy this, the Petitioner again filed a return of income on 16 January 2019, and in this return, the Petitioner disclosed that the audit report in Form 10B was physically filed within time. All this shows that the Petitioner, based upon the bona fide advice of their Chartered Accountant, believed that the filing of Form 10B manually or physically was substantial compliance with the law. 9. At the hearing on the rectification application, the Assessing Officer informed the Petitioner about the requirement of uploading Form 10B electronically on the port ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... advice of a professional Chartered Accountant. Even the Chartered Accountant filed an affidavit explaining her bona fides and the factum of the advice. After the Petitioner became aware of the reasons, she took several steps and ultimately uploaded Form 10B electronically. Still, the application for condonation of delay has been rejected without adequate compliance with the principles of natural justice and fair play. 13. In all such matters, there is bound to be some lapse on the part of the assessee seeking condonation. However, the delay should be condoned as long as such lapse is not mala fide and the assessee has not derived any undue advantage out of his own lapse. Besides, in such matters, though the length of the delay is one of t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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