Assessee failed to file return of income and Form No. 10B before ...

Tribunal Directs Tax Officer to Grant Exemption After Assessee Files Form 10B Within Extended Deadline.

August 30, 2024

Case Laws Income Tax AT

Assessee failed to file return of income and Form No. 10B before due date, resulting in denial of benefit u/ss 11 and 12. However, consistent judicial precedents, including Sarvodaya Charitable Trust, Shri Laxmanarayan Dev Shrishan Seva Khendra, and Sh. Rajkot Vishashrimali Jain Samaj cases, have held that exemption cannot be denied merely for delay in furnishing audit report in Form No. 10B, especially when authorities have discretionary powers to condone such delay. The Appellate Tribunal noted that the assessee filed Form No. 10B within the extended due date, and the denial of Section 11 benefit was due to incorrect factual appreciation. Consequently, the Tribunal directed the Assessing Officer to consider Form No. 10B and allow the exemption claim u/s 11.

View Source

← Previous Next →

Assessee failed to file return of income and Form No. 10B before ...

Tribunal Directs Tax Officer to Grant Exemption After Assessee Files Form 10B Within Extended Deadline.

August 30, 2024

Case Laws Income Tax AT

You may also like:

The Income Tax Appellate Tribunal held that the assessee's application for registration u/s 80G was filed within the statutory time limit. The Tribunal directed the...

Exemption u/s 11 and 12 - assessee failed to file the Audit Report in Form 10B along with the Return of Income - None of the authorities had any occasion to verify Audit...

Denial of benefit u/s 115BAA of reduced rate of tax @22% - Domestic Companies - Condonation of delay in filing of Form No. 10-IC by the assessee - The Appellate Tribunal...

Exemption u/s 11 was not claimed in original return due to auditor's mistake in Form No. 10B. Assessee rectified mistake by filing revised Form No. 10B. Statutory claim...

The High Court allowed the petition, quashing and setting aside the impugned order rejecting the application for condonation of delay in filing Form 10B under the Income...

Adjustment made to the income returned in the intimation made by the CPC u/s 143(1) - exemption u/s 11/12 denied as assessee had failed to furnish the necessary Form 10B...

Filing of Form 10-IE to opt for the new tax regime u/s 115BAC is directory, not mandatory. If filed before assessment, the Assessing Officer must consider it. The...

Validity of assessment passed w/o intimating u/s 143(1) - Denial of exemption u/s 11 and Claim of Expenses by the CPC - The Appellate Tribunal noted that the return of...

The assessee filed a belated Form No. 67 for claiming Foreign Tax Credit (FTC). The issue was whether the procedural requirement of filing Form No. 67 was directory or...

Denial of exemption u/s 11(2) was contested due to the trust's failure to file Form No. 10 within the due date specified u/s 139(1) owing to technical issues. The...

The case involves a dispute regarding adjustments made u/s 143(1) of the Income Tax Act due to the denial of exemption u/s 11 for not electronically filing Form 10B. The...

Exemption u/s 11 denied - delay in filing Form no. 10 - Department's objection that the audit report in Form no. 10B was also delayed and such delay had neither been...

Foreign Tax Credit u/s. 90 - Assessee did not file Form 67 at the time of filing of her return of income - Referring to established case law, the Tribunal affirmed that...

The Appellate Tribunal (ITAT) considered the denial of Foreign Tax Credit (FTC) u/s late filing of Form 67. The assessee argued that Form 67 filing is procedural, not...

Assessee's claim for foreign tax credit u/s 90 allowed despite delay in filing Form No. 67 after due date of filing return u/s 139(1). Delay in filing Form 67 cannot...

Quick Updates: