2025 (7) TMI 682

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.... Act, 1961 (for short "IT Act") dated 11th December 2024. By the impugned order, the 1st Respondent refused to condone the delay of 24 days in filing Form 10B for AY 2021-22. Consequently, the exemption claimed by the Petitioner-Foundation, and which is a Charitable Trust, was denied to the Petitioner. 3. Mrs. Bharucha, the learned Advocate appearing on behalf of the Revenue, submitted that in the facts of the present case, apart from the reasons stated in the impugned order for rejecting the application, the Assessee has not even digitally signed Form 10B, and therefore, it is an invalid Form which is filed by the Petitioner. 4. We have perused the papers and proceedings in the Writ Petition and also the impugned order dated 11th Decembe....

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....ation. This is more so, when the legislature has conferred wide discretionary powers to condone the delay on the authorities concerned. The relevant portion of this decision reads thus:- "31. Having given our due consideration to all the relevant aspects of the matter, we are of the view that the approach in the cases of the present type should be equitious, balancing and judicious. Technically, strictly and liberally speaking, the respondent no.2 might be justified in denying the exemption under section 12 of the Act by rejecting such condonation application, but an assessee, a public charitable trust past 30 years who substantially satisfies the condonation for availing such exemption, should not be denied the same merely on the bar of ....