9911796707
TMI Blog2023 (5) TMI 1427X X X X Extracts X X X X X X X X Extracts X X X X ..... tory and not mandatory. In the case of assessee, Form 10B was obtained on 31.07.2018 and which was subsequently uploaded on e-portal on 12.12.2019. In such scenario, the claim of the assessee cannot be denied. We have noticed that subsequent to the Board's Circular No. 2/2020 dated 03.01.2020, another Board's Circular No. 16/2022 dated 19.07.2022 issued under which the provision of section 119(2)(b) has delegated the powers to PCIT/CIT to condone the delay in filing Form 10B beyond 365 days upto 3 years from the assessment year 2018-19 or for subsequent years and if this circular had applied in the case of assessee then also the time for condonation is as much as within 3 years of such prescribed limit in filing Form 10B. No infirmity in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in contravention to the provisions of the Act and in violation 3. For that the assessee craves leave to alter, add, amend, moderate, substitute or delete any one or more of the ground or grounds of appeal at any time before or in course of hearing of the appeal." 2. Brief facts of the case are that the assessee filed its return of income on 30.07.2018 declaring income of Rs. 1,81,67,130/- which was found to be defective and subsequent to the notice issued by the CPC to the assessee, the assessee filed another return of income on 22.11.2019 declaring total income of Rs. 1,78,89,980/-. However, doing so, the assessee also filed Form No. 10B dated 31.07.2018 for the period under consideration on 12.12.2019 and it was filed much beyond the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 04.06.2020. Various courts have held that filing Form 10B is directory in nature and deduction u/s 11 cannot be denied once form 10B has been filed. Gujrat High Court in Gujrat Oil & Allied Industries (1993) 201 ITR 325 has held that auditor's report along with the return has to be treated as procedural provision and therefore directory in nature. Accordingly, I direct the AO to allow deduction u/s 11 as per law." 5. Dissatisfied with the above order, revenue is in appeal before this Tribunal. 6. At the time of hearing, ld. DR submitted that the order passed by the ld. CIT(A), NFAC, Delhi is bad in law by which allowing exemption to the assessee despite the fact that condonation of delay in filing Form 10B having been rejected CIT(Exempt ..... X X X X Extracts X X X X X X X X Extracts X X X X
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