TaxTMI 
TaxTMI 
2025 (4) TMI 34
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....e following grounds:- 1) The order of the learned CIT(A) National Faceless Appeal Centre (NFAC), Delhi is arbitrary, against the provisions of law and contrary to the facts of the case and is therefore unsustainable. 2) The learned CIT(A) erred in passing the appeal order without giving reasonable opportunity to the Appellant. 3) The learned CIT(A) erred in not considering that the Appellant had filed Form 10 in time and had only revised it. 4) The learned CIT(A) erred in confirming the disallowance of Rs. 1,20,00,000accumulated U/s 11(2) of the 1.T. Act. For the grounds stated above and for the grounds which may be permitted to be adduced at the time of hearing of the appeal it is prayed that th....
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....l of the submissions made by the assessee but not convinced with the explanation offered by the assessee and dismissed the appeal of the assessee by confirming the order of the AO. Aggrieved, assessee is in appeal before us. 4. Before us, the Ld.AR for the assessee stated that there is no time limit fixed in the Act for filing of Form 10 for accumulation of funds. Further, the Ld.AR stated that the AO has given only 3 days time in the show-cause notice and passed the order abruptly without giving proper opportunity to the assessee to respond to the show-cause notice. Further, the Ld.AR in support of his arguments brought to our notice, the decision of Hon'ble Madras High Court in the case of Shri Chandraprabhuji Maharaj Jain vs. DCIT, Ta....
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....dered in the decision, stating that before completion of the assessment, the information should be made available to be Assessing Officer. 8. As noted by us earlier, the assessee filed the return of income for the assessment year under consideration on 02.04.2009, which was processed and intimation under Section 143(1) of the Act was issued on 21.01.2011. Thus, there was no assessment under Section 143(3) of the Act. The assessee, while filing the petition under Section 154 of the Act, on 22.03.2011, pointed out that the assessee filed the Form No.10 along with the Board Resolution along with the covering letter dated 01.04.2019. However, the mistake done by the assessee was to file hard copies before the Assessing Officer, and not....
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....he same within the time allowed for furnishing the return of income under Section 139(4) of the Act. 10. In CIT -Vs- AKS Alloys Pvt Ltd (18 Taxmann.com 25 Mad), it was held that for claiming deduction under Section 80-IB, audit report in Form 10CCB can be filed before the assessment is completed, if the same has not been filed along with the return of income. In arriving at such a decision, the Court referred to the decisions cited below. CIT -Vs- Ace Multitaxes Systems (P) Ltd., (2009) 317 ITR 2017 (Kar.) CIT -Vs-Contimeters Electricals (P) Ltd., (2009) 317 ITR 249 (Del.) CIT -Vs-A.N.Arunachalam (1994) 208 ITR 481 (Mad.) CIT -Vs- Jayant Patel (2001) 248 ITR 199 (Mad.) CIT -Vs- Shivanand....
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....olution, along with the covering letter dated 01.04.2009, it is a fit case where the assessing officer should be directed to take note of Form No.10 accompanied by the Board Resolution and take a decision on merits. As we have taken a decision on the assessee's entitlement to file Form No.10, the substantial questions of law, which have been framed by the assessee are not required to be answered and are left open. 13. For the above reasons, the appeal is allowed and the order passed by the Tribunal as well as the CIT (A) are set aside and the order passed by the Deputy Director of Income Tax (Exemptions)-II dated 28.03.2011 is also set aside. The authority is directed to take note of the Form No.10 and the Board Resolution and take....