2025 (9) TMI 9

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....ferred to as 'the Act'), dated 11.02.2024, which in turn arises out of an assessment order passed by the assessing officer under section 143(1) of the Income tax Act 1961. 2. The appeal filed by the assessee for Assessment Year 2022-23, is barred by limitation by 14 days. The assessee has moved a petition requesting the Bench to condone the delay. The Ld. Counsel for the assessee, explained the reasons for delay, stating that assessee's trust is based in a small town (Junagadh), and hence assessee had to search for Tribunal tax practitioners in its town which would advise them for further course of action. That thereafter, assessee was advised to come to Rajkot and contracted few tax counsels and then a Tribunal tax practitioner who ....

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.... delay were convincing and these reasons would constitute reasonable and sufficient cause for the delay in filing this appeal. A perusal of the affidavit gives us an impression of existence o f mitigating circumstances to enable us to exercise our discretion in favour of the assessee. Accordingly, the delay is condoned. 5. Grounds of appeal raised by the assessee are as follows: "1. The Learned Commissioner (Appeals) erred in confirming actin of DDIT, CPC in making adjustments to the return income of the assessee by way of intimation u/s 143(1) of the Act and in denying the benefit of Sec. 11 to the assessee, failing to appreciate that this was not a case of permissible prima facie adjustment. 2. The Learned Commissione....

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....hat assessee did not file audit report in Form 10B, on time. 7. Aggrieved by the order of CPC-(assessing officer), the assessee carried the matter in appeal before Ld. CIT(A), who has confirmed the action of the assessing officer. Aggrieved by the order of the Ld. CIT (A), the assessee is in further appeal before us. The Ld. Counsel for the assessee submitted before us following chart of various events. Date Even 14-09-2022 Audit report in Form 10B obtained 05-11-2022 Filing of return of income 07-11-2022 Extended due date of filing of return of income 14-11-2022 Audit report in Form 10B filed electronically 31-03-2023 Intimation u/s 143(1) denying deduction claimed u/s 11 in the return of income 31....

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....IT(A) which we have already noted in our earlier para and is not being repeated for the sake of brevity. 10. We have heard both the parties and carefully gone through the submission put forth on behalf of the assessee along with the documents furnished and the case laws relied upon, and perused the fact of the case including the findings of the ld CIT(A) and other materials brought on record. We note that the solitary issue involved in this appeal is that, the assessee has not filed Form-10B-Audit Report, one month prior to the due date of furnishing the return of income u/s. 139(1) of the Act. However, the assessee has filed Form No.10B during the assessment proceedings, before the assessing officer, therefore, it would be a sufficient ....