2025 (6) TMI 154

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....stration Act, 1961 and had got registration under section 12A of the Income Tax Act, 1961. The assessee-Society is engaged in relief of the poor, education, yoga, medical relief and advancement of any other object of general public utility. The assessee Charitable Trust filed its return of income on 01.09.2023, prescribed Form No. 10 vide Acknowledgment No. 221781630010923 in respect of accumulation of income of a sum of Rs. 5,73,129/- under subsection 2 of section 11 of the Income Tax Act. The assessee-Society also submitted statutory audit report on 31.10.2023 prescribed Form No. 10BB specifying a sum of Rs. 1,32,36,648/- as income required to be applied in India by the appellant during the previous year. The assessee-Society also filed r....

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....exceed 15% of the income, on the alleged ground that appellant has not e-filed the Form 10BB Audit report within specified due date 31st October, 2023. 5. I have heard both the sides. It was the submission of the ld. Counsel for the assessee that the tax audit report was filed much prior to the date of passing of the order. He also relied on the decision of the Hon'ble High Court of Gujrat in the case of Sarvodaya Charitable Trust -vs.- ITO (Exemption) reported in (2021) 125 taxmann.com 75, wherein it was held that "benefit of exemption should not be denied merely on account of delay in filing of the audit report". He, therefore, pleaded to set aside the orders passed by the lower authorities. 6. On the other hand, ld. Departmental Re....