TaxTMI 
TaxTMI 
2010 (7) TMI 1190
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....y holding that the assessee is entitled to exemption u/s 11 of the Act when, in the first place, the Assessee never even claimed the same in the original Return of Income or by way of filing a revised Return of Income. In the absence of claim through filing of revised Return the assessee is not entitled to claim of exemption u/s 11 of the Act." 3. The assessee in this case filed return of income on 19.1.2007 after claiming exemption u/s. 10(21) of ₹ 3,76,22,000/-. The brief facts of the case is that the assessee is a society registered under the Societies Registration Act, 1860 and is engaged in the field of organizing, promoting and conducting scientific research for the extension of knowledge in the filed of energy engineering, pol....
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....ssee was also negatived on the ground that no revised return was filed, and further Form 10B was not signed by the Auditors. Thus, by denying both the claims, the total income was assessed at ₹ 3,76,22,000/-. 4. Upon assessee's appeal Ld. Commissioner of Income Tax (Appeals) held that Assessing Officer was correct in denying the benefit of section 10(21) to the assessee as Income Tax Act provided benefit to 'association' and not to 'institution'. However, Ld. Commissioner of Income Tax (Appeals) accepted the alternative ground of the assessee that in absence of exemption u/s 10(21) of the Act it should have been given the benefit of section 11, as it is registered under section 12A of the IT Act. Ld. Commissioner of Income Tax (Appea....
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....ejecting the audit report on this ground and making it a basis of denial of exemption u/s. 11 & 12." 5. Against this order the Revenue is in appeal before us. 6. The only grievance of the revenue is that the assessee has not claimed the exemption in the original return of income or by way of filing a revised return of income, hence, Ld. Commissioner of Income Tax (Appeals) should not have allowed the assessee's claim. 6.1 We have heard the Ld. Departmental Representative. None appeared on behalf of the assessee. Upon careful consideration, we are of the opinion that the issue can be adjudicated by considering the materials on record and hearing the Ld. Departmental Representative. Accordingly, we proceed to adjudicate the same. 6.2 We f....