9911796707
TMI Blog2025 (3) TMI 864X X X X Extracts X X X X X X X X Extracts X X X X ..... . Further, we also note that Form 10B has been approved by the assessee before the intimation u/s 143(1). We therefore direct the AO / CPC to allow the deduction claimed by the assessee. Thus, the ground raised by the assessee on this issue are allowed. While filing Form 10 for availing of Registration under section 10(23C) of the Act, assessee has wrongly selected the code of Clause (via) whereas in Sl. No. 5 stated Education as objective of the applicant - It appears to us that there was an inadvertently clerical error made by the assessee while filing the application. The applicant is running an educational institution and was granted approval from 2003 onwards. This clerical error could not be rectified by the applicant in spite of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3,56,71,028/- and assessee claimed to have spent towards his objects an amount of Rs. 3,07,47,649/- resulting in a surplus of Rs. 53,05,500/- which was set apart for future use. While filing the return of income assessee provided information that the assessee was accorded approval under section 10(23C)(vi) of the Act with dated 27.06.2003. In compliance with the Taxation and Other Laws (Relaxation and Amendment of certainprovisions) Act, 2020, assessee has applied in prescribed form and manner to the Principal Commissioner of Commissioner of Income Tax by 30.06.2021 for fresh approval. Assessee stated that it has been granted approval under section 10(23C)(vi) of the Act by the Principal Commissioner of Income tax dated 22.09.2023 where the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e defective return. 2. On the facts and in the circumstances of the case and in law the learned Commissioner of Income-tax (Appeals) erred in dismissing ground No.2 without a word being said about the fact that the audit report in form 10B (instated of form 10BB) was duly uploaded with in the due date along with audited 3. On the facts and in the circumstances of the case and in law the learned Commissioner of Income-tax (Appeals) erred in not considering judicial pronouncements in favor of the Assessee in similar situations as held in Indore contract bridge association Vs CPC Bangalore, by the Honorable ITAT Indore bench vide ITA no. 403/Ind/2022. 4. On the facts and in the circumstances of the case and in law the learned Commissi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mitted that the Form can be approved by the assessee was enabled on 28.09.2022 hence he pleaded that delay is not attributable to the assessee and prayed that deduction shall be allowed. 7. With respect to second issue of granting of approval under section 10(23C)(via) of the Act, Ld.AR draw out attention to Form 10A available in the paper book wherein he has selected wrong section code but submitted that in Sl.No.5 the object of the applicant, he selected as "education". Since the approval is automatic, he pleaded that this clerical error was overlooked. He further pleaded that this issue may be remitted back to the file of the Principal Commissioner of Income Tax for fresh issuance of Registration under section 10(23C)(vi) of the Act. 8 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Court in the case of CIT vs. Mumbai Metropolitan Regional Iron & Steel Market Committee (supra) has held that late filing of required documents would not disentitle the assessee from availing benefit of section 11 of the Act. Thus, in the facts of the case and in the light of decision of Hon'ble Bombay High Court, I deem it appropriate to restore the file back to Assessing Officer for de novo assessment after considering the audit report field by the assessee, in accordance with law." 10. Respectfully following the decision of the Coordinate Bench the delay in filing the Form 10B is merely a procedural defect which can be rectified. Further, we also note that Form 10B has been approved by the assessee before the intimation under sect ..... X X X X Extracts X X X X X X X X Extracts X X X X
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