TaxTMI 
TaxTMI 
2024 (1) TMI 1192
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.... question of law arising out of order dated 19th May, 2023 passed by the Income Tax Appellate Tribunal, 'A' Bench, Ahmedabad (for short 'the Tribunal') in ITA No. 209/Ahd/2022 for Assessment Year 2018-19. "I. Whether in the law and fact & circumstances of the case, the Hon'ble Tribunal was right in upholding the view of the Ld. CIT(A) that furnishing of audit report in Form No. 10B alongwith return of income filed, is procedural requirement, especially in view of the decision of the Hon'ble Supreme Court in the case of M/s. Wipro Ltd in Civil Appeal No. 1449 of The appellant submits that in the instant case the tax effect involved is to the tune of Rs. 54,00,41,875/- which is above the prescribed monetary limit specified under the ....
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....Appeal before the Tribunal. 2.5 The Tribunal, after considering the submissions of both the sides, referred to and relied upon the decision of this Court in the case of Social Security Scheme of GICEA v. Commissioner of Income Tax (Exemptions), Ahmedabad dated 21st December, 2022 in Special Civil Application No. 17612 of 2022 wherein this Court has held as under. "5. Having heard learned advocates for the respective parties and having gone through the material on record, the only question which falls for consideration is whether respondent committed an error in passing the order by not condoning the delay in filing Form No.10B along with the return filed. In the decision of this Court in Sarvodaya Charitable Trust vs. Income Tax....
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.... submitted that in case of Principal Commissioner of Income Tax-III, Bangalore v. M/s. Wipro Limited of the Hon'ble Supreme Court rendered on 11th July, 2022 in Civil Appeal No. 1449 of 2022 it was held that requirement of Section 10B(8) of the Income Tax Act which provides for requirement of furnishing declaration for claiming exemption under Section 10B is mandatory but the time limit within which such declaration is to be filed is also held to be mandatory. Relying upon the aforesaid decision, it was submitted that the assessee ought to have filed the audit report in Form 10B before the due date of filing of the return to claim the exemption under Section 12A of the Act. 5. Reliance placed by the learned advocate for the appellant on ....
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....turn under sub-section (1) of Section 139 would be directory. 7. Reference to the aforesaid decision has no connection whatsoever remotely to the facts of the present case and therefore, in the facts of the present case, the Tribunal has rightly followed the decision of this Court in case of Sarvodaya Charitable Trust v. Income Tax Officer (Exemption) in Special Civil Application No. 6097 of 2020 decided on 09th December, 2020 as well as the decision in case of Social Security Scheme of GICEA (supra) to uphold the decision of the CIT (Appeals), wherein this Court has held that the approach of the authority in such type of cases should be equitable, balancing and judicious and respondent No. 2 might be justified in denying the exemption u....