2022 (5) TMI 164

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.... the A.Y. 2018-19 on 28.09.2018. Thereafter, it filed revised return of income on 09.03.2019 declaring total income at Rs.NIL. In the intimation issued under section 143(1) of the I.T. Act, 1961 vide order dated 09.02.2020 the A.O. determined the total income of Assessee Trust at Rs.10,36,657/-, inter alia, by denying the claim of exemption under section 11(2) of the I.T. Act, 1961. Aggrieved by the order of A.O, assessee filed appeal before the Ld. CIT(A). Thereafter, the appeal was migrated to National Faceless Appeal Centre ["NFAC"] in terms of Notification No.76/2020 dated 25.09.2020 issued by the CBDT. Thereafter, vide order dated 15.12.2021 in DIN & Order No. ITBA/NFAC/S/ 250/2021-22/1037811233(1) the appeal of the assessee was dismis....

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....of rejection of accumulation under section 11(2) of the I.T. Act, 1961. 4.1. Before me the Learned A.R. of the Assessee submitted that assessee was required to file Form-10 as required under Rule-17 of I.T. Rules for claiming exemption under section 11(2) by 30.09.2018. However, it was filed on 09.03.2019 along with revised return of income. The CPC vide intimation under section 143(1) of the I.T. Act, 1961 disallowed the claim of exemption under section 11(2) of the I.T. Act, 1961 for the reason that assessee did not fulfil the mandated pre-condition of filing Form No.10 within the prescribed period. When the matter was carried before the Appellate Authority, the order of A.O. was upheld by the Appellate Authority. 4.2. Before me, Le....

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..... It is an undisputed fact that though Form-10 was required to be filed before 30.09.2018, but, it has been filed before the completion of the assessment. I find that the Hon'ble Chandigarh Bench of Tribunal in the case of Institution of Civil Engineers Society vs., ACIT (Exemptions) (supra), after considering the CBDT Circular No.6/20dated 19.02.2020 and the decision of Hon'ble Apex Court in the case of Nagpur Hotel Owners Association [2001] 114 Taxman 255 (SC) and various other decisions cited in the order has held that when assessee had filed Form-10 during the course of assessment proceedings and before the completion of the assessment, the same should be considered by the A.O. while considering the claim of benefit under section 11(2) ....