2023 (10) TMI 1404

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....-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 grounds taken by the Revenue read as under: ....

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.... 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 Act, 1961. 2.3 The CIT (A) has erred in not appreciating th....

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....bsp;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 communication was issued by CPC before making impugned adjustment. Having considered cas....

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.... 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. Certainly, the assessee has defaulted in the same. Now, Ld. AR has submitted evidences of s....