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of <h1>High Court Affirms Tribunal's Decision: Late Form 10 Accepted, Revenue Appeals Dismissed as Infructuous.</h1> <h3>Commissioner of Income Tax, Chennai. Versus M/s. Tamilnadu Industrial Guidance & Export Promotion Bureau,</h3> Commissioner of Income Tax, Chennai. Versus M/s. Tamilnadu Industrial Guidance & Export Promotion Bureau, - TMI Issues:- Appeal against the order of the Income Tax Appellate Tribunal regarding acceptance of Form 10 during reassessment proceedings in contravention to previous decisions.Analysis:1. The appeals were filed by the Revenue challenging the order of the Income Tax Appellate Tribunal Madras 'C' Bench for the Assessment Year 2007-08. The main issue raised was whether the tribunal was correct in accepting Form 10 during reassessment proceedings when it was not submitted along with the return and before the completion of the original assessment. The Tribunal remanded the case back to the Assessing Authority to consider Form No.10 filed belatedly by the Assessee regarding the accumulation of income by a Registered Society entitled to exemption under Section 11 of the Act.2. The respondent Assessee's counsel referred to a previous decision by a Coordinate Bench in a similar case and argued that the Assessing Authority had already granted relief to the Assessee based on the belatedly filed Form No.10. The High Court noted that no question of law arose for consideration under Section 260A of the Act, as the Coordinate Bench had already ruled on the admissibility of belatedly filed Form No.10 in a previous case. The High Court affirmed that the Assessing Authority rightly considered the Form No.10 in the present case and granted relief to the respondent Assessee, a Government Company incorporated for promoting Industrial Development in the State.3. Consequently, the High Court found no merit in the Revenue's appeals and deemed them infructuous. The Court concluded that the Assessing Authority had appropriately considered the belatedly filed Form No.10 and granted relief to the Assessee. Therefore, the appeals were disposed of without addressing the question of law, and no costs were awarded in the matter.
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