2012 (9) TMI 1049

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....g the course of assessment proceeding and to grant exemption u/s. 11 of the Act?" 2. We heard learned advocate Ms. Paurami Sheth for the appellant. 3. The issue in narrow compass and is about the Commissioner of Income-tax (Appeals) directing acceptance of audit report from the assessee and granting exemption under section 11 of the Income-tax Act, 1961 (hereinafter referred to as `the Act' ....

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....ted 16.04.2009 and the exemption under section 11 of the Act allowed. The Department filed appeal which came to be dismissed by the impugned order bringing the Department before this Court by way of present appeal. 4. The question whether it is permissible to the assessee to produce the audit report at the appellate stage, has already been answered by this court in CIT v. Gujarat Oil & Allied Ind....

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....sufficient cause. This decision of Punjab & Haryana High Court has been relied on by the Tribunal. 5. In the above view, the Tribunal is eminently justified both in law and on facts in observing and holding as under:- "In this case, it is not in dispute that the audit report in prescribed form was obtained prior to filing of the return on 20/12/2006; therefore, there was no reason for the asses....