2024 (10) TMI 1635

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....ssee's appeal against the order of the ld. Commissioner of Income Tax (Appeal), National Faceless Appeal Centre (NFAC), Delhi dated 26.05.2024 for the Asst. Year 2016-17 passed under section 250 of the Income Tax Act, 1961 ("the Act" for short). 2. In the appeal, the assessee has raised grounds the following grounds: 1. The order passed by lower authorities is bad in law and required t....

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....mmercial principle and real income theory. Charging of Interest u/s 234A, 234B, 234C are unjustified." 3. The issue before me pertains to delayed submission of Form no. 10B which ld. counsel for the stated to be a technical default. He further submitted that ld. Bench of the ITAT, Ahmedabad rejected similar claim in the case of Association of Indian Panelboard Manufacturer Vs. DCIT, IT....

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.... Officer even though the same may not have been filed alongwith (the return of income. Filing of audit report is held to be substantive requirement but not the mode and stage of filing, which is procedural. Once the audit report in Form 12B is filed to be available with the Assessing Officer, before assessment proceedings take place, the requirement of law is satisfied. In that view, the Income Ta....