2025 (11) TMI 899

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....he Revenue : Sh. Mahesh Kumar, CIT (DR) ORDER PER YOGESH KUMAR, U.S. JM: The present appeal is filed by the Assessee against the order of Ld. Commissioner of Income Tax (Appeals)-24, ('Ld. CIT(A)' for short), New Delhi dated 20/01/2025 pertaining to Assessment Years 2021-22. 2. Brief facts of the case are that, the Assessee filed Form 10BB on 28/03/2022, whereas the extended due date a....

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....erred the present Appeal. 3. The Ld. Departmental Representative vehemently submitted that the Ld. CIT(A) committed error in deleting disallowance of Rs. 10,27,06,176/- made by the A.O. u/s 143(1) of the Act on account of non-compliance with 10th Proviso of Section 10(23C) of the Act and corresponding provision of Section 14A of the Act. Thus, the Ld. Departmental Representative sought for allo....

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.... the Assessee could not file the Form 10BB on time. The Ld. CIT(A) while allowing the Appeal relied on plethora of Judgment and found that the Assessee trust being a registered u/s 12AA of the Act and field original his return on time and also From 10BB on the date of filing of return of income, therefore, observed that the Assessee has complied with the requirements of furnishing of Form 10BB. ....

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....e due date of filing the original return of income under section 139(1) are to be satisfied and both are mandatorily to be complied with. Accordingly, the question of law is answered in favour of the Revenue and against the assessee. The orders passed by the High Court as well as ITAT taking a contrary view are hereby set aside and it is held that the assessee shall not be entitled to the benefit ....