2025 (12) TMI 351

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... 2. Brief facts of the case of the assessee are that the assessee being society is registered u/s. 12AA of the Act. The case of the assessee was selected for scrutiny on the issue of transaction of trust with specified persons. On perusal of the Form 10AB, the Assessing Officer found that the assessee made payments totalling to Rs. 16,96,465/- in the previous year. Notice was issued u/s. 142(1) of the Act and vide Notice u/s. 142(1), the Assessing Officer asked to submit bank statement to prove the claim of the assessee that neither any payment is made to the persons mentioned in the Original Form 10B nor any payment is made to the executive committee members which attracts section 13(3). In response to the notice u/s. 142(1) dated 22.01.2....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ing of form 10B is merely a procedural delay that can be rectified and exemption cannot be denied only on this ground. The ld. AR place reliance to the decision of ITAT, Kolkata in the case of Saraswati Devi Educational And Social Trust vs. ITO in ITA No.873 & 874/KOL/2025 dated 04/11/2025. The ld. AR therefore prayed that the delay may be needed to be condoned by allowing relief to the assessee. 5. On the other hand, ld. DR vehemently supported the orders of the lower authorities and submitted that the assessee was required to file Form 10B along with the return of income within the time prescribed under the Act, which has not been done by the assessee. Therefore, ld. ld. DR submitted that the ld. CIT(A) has rightly rejected the claim o....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....2021 & 31.10.2023, respectively. The due date for furnishing Form 10B/10BB for the assessment year 2020-2021 & 2023-2024 was prior to one month before the due date for furnishing return u/s.139(1) of the Act. The intimations/orders u/s. 143(1) of the Act had been issued for A.Y. on 24.12.2021 and for AY 2023-2024 on 04.12.2024. The CPC had denied the assessee the benefit of exemption u/s.11 & 10(23C) of the Act on the ground that the audit report in Form 10B/10BB had been filed belatedly. The ld CIT(A) dismissed the appeals of the assessee by observing that the in order claim exemption u/s. 11 & 12 of the Act certain conditions are required to be satisfied which were not fulfilled by the assessee. It is noticed that the audit report was ver....