2022 (12) TMI 1414 - HC - Income Tax

Gujarat HC to Rule on Income Tax Act Audit Report Exemption Denial

The Gujarat HC is set to address the denial of exemptions under sections 11(1) and 11(2) of the Income Tax Act due to late filing of Audit Report in Form ... Exemption u/s 11(1) and 11(2) - exemption denied merely on the ground of belated filing of Audit Report in Form 10B - whether Tribunal was right in confirming the order of the respondent in denying the claim of exemptions more so when such audit report was admittedly filed electronically well before the order denying such exemptions came to be passed ? - Whether the order passed by the Income Tax Appellate Tribunal is perverse inasmuch as the same is contrary to law laid down by the Hon’ble the jurisdictional High Court or not following the binding judgements of Hon’ble the jurisdictional High Court ? HELD THAT:- Appeal admitted on substantial questions of law raised before this Court - Notice for final disposal, returnable on 13/12/2022. The Gujarat High Court heard a case regarding denial of exemptions under section 11(1) and 11(2) of the Income Tax Act due to belated filing of Audit Report in Form 10B. The appellant relied on previous court judgments to support their case. The Court identified three substantial questions of law to be addressed. The case is scheduled for final disposal on 13/12/2022.