2024 (9) TMI 1750

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..... "CIT(A)"] dated 14.12.2023 arising out of the intimation u/s. 143(1) of the Act by CPC, Bengaluru dated 31.03.2023. 2. Grounds of appeal raised by the assessee read as under: "1. That on the facts and circumstances of the case and in law, the Ld. Appellate Authority should not have arbitrarily subjected the Appeal to partial relief to the extent of Rs.11168586.00, while based on the proven facts and the law applicable, in the absence of any lapse or default as regards filing of the Audit Report within the time limit, the Appellant would have been legally entitled to full relief, claimed in the Audit Reports of Rs. 14449989.00, u/ s 10(23C)(vi). 2. That on the facts and circumstances of the case and in law, the Ld. Appellate Authority....

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....f the case and in law, the Ld. Appellate Authority should have appreciated that in view of timely filing of original Audit Report in the wrong form of 10B well before the specified date and the substitution thereof by Form 10BB, well before the return processing U/S 143(1), U/S 10(23C)(vi), the entire income of Rs. 14449989.00 had been eligible for deduction and as such he had erred in restricting the deduction to the extent of expenditure debited in the Income and Expenditure Account Rs. 1168586.00 only. 6. That the Appellant humbly pleads for going for additional grounds, effecting modification in regard to any one or more of the foregoing grounds, and also not press any one or more grounds, either before or in course of Appellate Proce....

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....ve heard rival submissions and perused the material placed before us. The grievance of the assessee is that Ld. CIT(A) erred in confirming the action of the CPC denying exemption u/s. 10(23C)(vi) of the Act on the ground that assessee has not furnished the audit report on the prescribed Form before specified due date. We find that the prescribed date for the assessee for filing audit report on Form 10BB is 30.09.2022 but the same was extended up to 07.10.2022. The audit report on Form 10BB is to be filed by the auditor. In the instant case, the auditor of the assessee trust after having audited the financial statement prepared the audit report but in place of Form 10BB inadvertently furnished the information on Form 10B and uploaded it on 1....