2024 (3) TMI 99

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....der of assessment passed u/s 154 of the Income-tax Act, 1961 (hereinafter referred to as "the Act") dated 12.02.2020 by the Assessing Officer, ITO, Ward-2(1), Rudrapur (hereinafter referred to as "ld. AO"). 2. At the outset, there is delay in filing of appeal of 238 days by the assessee before us. The assessee has filed a delay condonation petition adducing reason that it being an educational institution running a small school and providing education to the under-privileged children, is not conversant with the deadlines fixed under the taxation laws and that the Treasurer of the institution immediately on receipt of the appeal order of the ld CIT(A) had handed over the same to the Principal of the Institution. The Principal being an acad....

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....Education through a 10+2 Hindi Medium School Affiliated to Uttarakhand Board run under the aegis of Rashtriya Swayam Sewak Sangh (RSS) existing since 1952. The assessee had electronically filed its return of income u/s 139(4A) of the Act on 20.06.2018 declaring total income at Rs. NIL. The return was processed by CPC u/s 143(1) vide order dated 26.09.2019 assessing the total income at Rs. 94,73,763/- without granting any exemption u/s 11/12 of the Act. The assessee filed a rectification application on 03.01.2020 for rectifying the demand and the same was rejected vide Order u/s 154 dated 12.02.2020. 5. It is not in dispute that the gross receipts of the assessee for the year under consideration was Rs. 94,73,763/-. The assessee had indee....

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....ater enhanced to Rs. 5 crores. Hence, either way, irrespective of the fact that the audit report has been filed belatedly, the assessee's income would be eligible for exemption u/s 10(23C)(iiiad) in the instant case. Accordingly, the lower authorities had grossly erred in denying the claim u/s 10(23C)(iiiad) on the ground that the same was not claimed by the assessee in the return of income. Either way, the claim of exemption 10(23C)(iiiad) made by the assessee in the instant case in the manner as provided in the statute. The law is well settled that a belated claim of the assessee should be allowed even if the same is not claimed by the assessee in the original return of income but made during the course of assessment and appellate proceed....