2025 (11) TMI 985

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....red to as 'the Act'] whereby the Ld. CIT(A) had dismissed the appeal against the Assessment Order, dated 04/11/2020, passed under Section 154 of the Act for the Assessment Year 2014-2015. 2. The Assessee has raised following grounds of appeal : "1. The Order of the Commissioner of Income Tax (Appeals) is against facts and law. 2. The Commissioner of Income Tax (Appeals) failed in disallowing the claim for accumulation of income u/s 11(2) and 11(5) on the ground that no evidence is filed as per Income Tax Rule 17 before the expiry of time allowed u/s 139(1). As per Section 11(2), as applicable for AY 2014-15 there was no date specified as to the period within which the form has to be filed for availing exemption. The ame....

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....r the same. Copy of the resolution for opening a bank account shows that the name 'World Spice Congress 2014' is a project under ALL INDIA SPICES EXPORTER'S FORUM. 5. The Commissioner of Income Tax (Appeals) failed to consider that the filing of the return on the due date is a precondition for claiming exemption u/s 11 which was introduced by the Finance Act 2015 effective from 01.04.2016. During the year the return is to be filed within the due date is not a precondition and CIT (A) is not justified in dismissing the appeal on this grounds." 3. The facts as emerging from the record are that the Assessee is public charitable trust registered under Section 12A of the Act. The return of income for the Assessment Year 2....

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....benefit of Section 11 of the Act. We note that Clause (ba) was inserted in Section 12A(1) of the Act by the Finance Act, 2017 to provide clarity as to the time limit within which the aforesaid return was to be filed. The Memorandum to Finance Bill, 2017 dealing with the aforesaid amendment provided as under: "Clarity of procedure in respect of change or modifications of object and filing of return of income in case of entities exempt under sections 11 and 12 The existing provisions of section 12A of the Act provide for conditions for applicability of sections 11 and 12 in relation to the benefit of exemption in respect of income of any trust or institution. xx      xx xx  &nb....