TaxTMI 
TaxTMI 
2025 (7) TMI 248
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.... the I.T. Act, 1961. The Temple is under the management and the administrative control of the Endowment Department of Govt. of Telangana. The appellant had filed its return of income for the A.Y 2023-24 as an Artificial Juridical Person declaring total income at Rs. "Nil" after claiming exemption u/s 11 of the I.T. Act, 1961. The appellant had filed audit report in Form No.10BB on 28/11/2023, but due date of filing the audit report was 31/10/2023. The return of income filed by the assessee has been processed and intimation u/s 143(1) of the Act was issued determining the total income at Rs. 1,13,40,607/- by denying the exemption u/s 11 of the Act, for not filing the audit report in Form No.10BB on or before the due date i.e. on 31/10/2023. ....
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....he explanation of the assessee and upheld the additions made by the Assessing Officer. 4. Aggrieved by the order of the learned CIT (A), the assessee is in appeal before the Tribunal. 5. The learned Counsel for the assessee submitted that, the learned CIT (A) erred in sustaining the addition made by the Assessing Officer by rejecting the exemption u/s 11 of the Act, for not filing Form 10BB on or before the due date, even though the said audit report was made available to the Assessing Officer before he passed order u/s 143(1) of the Act on 19/11/2024. The learned Counsel for the assessee further referring to the various facts submitted that the assessee is registered u/s 12AA of the Act and this fact has not been disputed by the Asse....
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....the Assessing Officer and the learned CIT (A) after considering the relevant facts has rightly denied the exemption u/s 11 of the Act and thus, the order of the learned CIT (A) should be upheld. 7. We have heard the rival contentions, perused the relevant material available on record and gone through the orders of the authorities below. There is no dispute with regard to the fact that, the appellant is a religious institution under the management and administrative control of Endowment Department of the Govt. of Telangana. It is also not in dispute that, the appellant is registered u/s 12A and 12AA of the I.T. Act, 1961. The appellant has claimed exemption u/s 11 of the Act and filed relevant audit report in Form 10BB on 28/11/2023 along....
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....elangana in the case of Shilparamam Arts, Crafts and Cultural Society vs, Addl./Jt./ACIT (Supra) had considered an identical issue and held that, where the assessee trust filed its return of income for the relevant A.Y on due date but, uploaded Form 10BB belatedly i.e. 2 ½ years before the assessment order was passed, application for condonation of delay in filing Form 10BB ought to have been decided by the Commissioner by taking a liberal approach. The sum and substance of ratio laid down by the Hon'ble High Court of Telangana and the ITAT Bangalore Bench of the Tribunal that, if audit report in Form 10BB was made available to the Assessing Officer before he passes his assessment order, then merely for the reason of delay in fil....