2022 (8) TMI 520

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....nts : Abhimanyu Singh Yadav, Sr. D.R. ORDER Per Waseem Ahmed , Accountant Member The captioned appeal has been filed at the instance of the Assessee against the order of the Learned Commissioner of Income Tax (Appeals)-9, Ahmedabad, arising in the matter of assessment order passed under s. 143(1) of the Income Tax Act, 1961 (here-in-after referred to as "the Act") relevant to the Assessme....

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....e for the year i.e. AY 2017-18 declared gross receipt of Rs. 18,36,157/- and application towards its object amounting to Rs. 23,59,844/-. The assessee claimed exemption under section 11/12 of the Act on the reasoning that on the date of registration, the assessment was pending. Therefore, as per the proviso to section 12A(2) of the Act and as per CBDT circular 01/2015, it is eligible for benefit u....

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....he learned AR before us contended that the assessee has made sufficient compliance by furnishing the audit report in form 10B in physical form. Therefore, the benefit of exemption under section 11 cannot be denied merely on the reasoning that such audit report was not filed electronically. 8. On the other hand, the learned DR vehemently supported the order of the authorities below. 9. We hav....

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....edural proviso. It is directory in nature and its substantial compliance would suffice. In that case, the assessee had not produced the audit report along with the return of income but produced the same before the completion of the assessment. The Hon'ble High Court took the view that the benefit of exemption should not be denied merely on account of delay in furnishing the same and it is perm....