2025 (6) TMI 960

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....4(1) OF INCOME TAX ACT PER PAWAN SINGH, JUDICIAL MEMBER; 1. The appeal by the assessee is directed against order of CIT(A) / ADDL / JCIT(A)-6, Delhi dated 29.01.2025 for the A.Y. 2017-18. The assessee has raised the following grounds of appeal: - "1. The Ld. Commissioner of Income Tax (Exemption) has erred in law and on the facts of the case in confirming action of the CPC of denyin....

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....on 12AA of the Income Tax Act, 1961 (in short "Act"). The object and activities of the assessee is not in dispute. Assessee filed its return of income for the A.Y. 2017-18 on 28.07.2017. The assessee also filed report in Form 10B within extended period on 07.11.2017. The report in Form 10B was also obtained before due date, however, the same couldnot be approved by Trustees due to non-availability....

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....eturn of income. Further in a series of decisions the various trusts have been allowed benefit of section 11, when Form 10B is filed during the assessment proceedings. To support his submission, Ld.AR of the assessee relied upon the following decisions: - * Mumbai Metropolitan Regional Iron & Steel Market Commodity (378 ITR 103) * Laxmanarayayan Dev ShrishanSeveaKhendra (167 taxm....