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TMI Blog2025 (4) TMI 34X X X X Extracts X X X X X X X X Extracts X X X X ..... learned CIT(A) National Faceless Appeal Centre (NFAC), Delhi is arbitrary, against the provisions of law and contrary to the facts of the case and is therefore unsustainable. 2) The learned CIT(A) erred in passing the appeal order without giving reasonable opportunity to the Appellant. 3) The learned CIT(A) erred in not considering that the Appellant had filed Form 10 in time and had only revised it. 4) The learned CIT(A) erred in confirming the disallowance of Rs. 1,20,00,000accumulated U/s 11(2) of the 1.T. Act. For the grounds stated above and for the grounds which may be permitted to be adduced at the time of hearing of the appeal it is prayed that the disallowance of Rs. 1,20,00,000 made in the Assessment Order may be deleted a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fered by the assessee and dismissed the appeal of the assessee by confirming the order of the AO. Aggrieved, assessee is in appeal before us. 4. Before us, the Ld.AR for the assessee stated that there is no time limit fixed in the Act for filing of Form 10 for accumulation of funds. Further, the Ld.AR stated that the AO has given only 3 days time in the show-cause notice and passed the order abruptly without giving proper opportunity to the assessee to respond to the show-cause notice. Further, the Ld.AR in support of his arguments brought to our notice, the decision of Hon'ble Madras High Court in the case of Shri Chandraprabhuji Maharaj Jain vs. DCIT, Tax Case Appeal No.517 of 2019, wherein the lordships have held as under:- 7. Admitte ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uld be made available to be Assessing Officer. 8. As noted by us earlier, the assessee filed the return of income for the assessment year under consideration on 02.04.2009, which was processed and intimation under Section 143(1) of the Act was issued on 21.01.2011. Thus, there was no assessment under Section 143(3) of the Act. The assessee, while filing the petition under Section 154 of the Act, on 22.03.2011, pointed out that the assessee filed the Form No.10 along with the Board Resolution along with the covering letter dated 01.04.2019. However, the mistake done by the assessee was to file hard copies before the Assessing Officer, and not filing the same along with the return of income, which they filed on 02.04.2019. Thus, on the date ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... In CIT -Vs- AKS Alloys Pvt Ltd (18 Taxmann.com 25 Mad), it was held that for claiming deduction under Section 80-IB, audit report in Form 10CCB can be filed before the assessment is completed, if the same has not been filed along with the return of income. In arriving at such a decision, the Court referred to the decisions cited below. CIT -Vs- Ace Multitaxes Systems (P) Ltd., (2009) 317 ITR 2017 (Kar.) CIT -Vs-Contimeters Electricals (P) Ltd., (2009) 317 ITR 249 (Del.) CIT -Vs-A.N.Arunachalam (1994) 208 ITR 481 (Mad.) CIT -Vs- Jayant Patel (2001) 248 ITR 199 (Mad.) CIT -Vs- Shivanand Electronics (1994) 209 ITR 63 (Bom.) Zenith Processing Mills -Vs- CIT (1996) 219 ITR 721 (Guj.) CIT -Vs- Mahalaxmi Rice Factory (2007) 294 ITR ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n and take a decision on merits. As we have taken a decision on the assessee's entitlement to file Form No.10, the substantial questions of law, which have been framed by the assessee are not required to be answered and are left open. 13. For the above reasons, the appeal is allowed and the order passed by the Tribunal as well as the CIT (A) are set aside and the order passed by the Deputy Director of Income Tax (Exemptions)-II dated 28.03.2011 is also set aside. The authority is directed to take note of the Form No.10 and the Board Resolution and take a decision on merits and in accordance with law. No costs. In view of the above, the Ld.AR prayed for remitting the issue back to the AO for fresh assessment. 5. Per contra, the Ld.DR sta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... providing one more opportunity to the assessee to substantiate the case. We agree with the assessee's reliance on the judgement of the Hon'ble High Court in the case of Shri Chandraprabhuji Maharaj Jain (supra), wherein their lordships have observed that the 'statute does not prescribe any time limit for filing statutory Form No.10 and directed the AO to consider the Form 10 filed subsequently to conclude the assessment'. In the present case on hand, since the assessee has filed the revised Form 10 on 21.04.2021, relying on the Hon'ble Jurisdictional High Court decision, we are setting aside the order of the Ld.CIT(A) and in the interest of natural justice, remit back the file to AO with a direction to take note of Form No.10 accompanied b ..... X X X X Extracts X X X X X X X X Extracts X X X X
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