2023 (10) TMI 1404

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....spondent : Shri S. Sridhar (Advocate)-Ld.AR. ORDER MANOJ KUMAR AGGARWAL (ACCOUNTANT MEMBER) 1. Aforesaid appeal by Revenue for Assessment Year (AY) 2020-21 arises out of the order of learned Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi [CIT(A)] dated 09-11-2022 in the matter of an intimation issued by CPC u/s. 143(1) of the Act on 24-12-2021. The gro....

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....tion for each assessment year is distinct. As a general rule, each year's assessment is final only for that year and does not govern later years, because it determines the tax for a particular period. 2.2 The CIT (A) erred in giving a finding that A.O. should not deny the benefits of section 11 & 12 of the Act when the assessee is possession of registration u/s. 12AA of the Income Tax....

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....that the assessee filed return of income belatedly and did not file Form No. 10B to lay claim on applicable deduction u/s 11 /12. The Ld. AR, on the other hand, placed on record condonation petitions filed by the assessee trust before appropriate authorities [CBDT / CIT (Exemptions)] seeking condonation of delay u/s 119(2)(b). The Ld. AR also sought to impress upon the fact that no communicat....

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....e is in further appeal before us. 5. We are of the considered opinion that though the assessee has valid registration u/s 12AA, still, it has to comply with the mandatory requirements of law to lay claim on impugned deduction. The law mandates the assessee to file return of income within due date as prescribed u/s 139(1) along with Form No. 10B so as to lay claim on this deduction. Certain....