2026 (2) TMI 162

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....tion 12A(b)(ii) of the Act, has been rejected. 2. The facts on record reveal that for the Assessment Year 2023-2024, the petitioner filed the Return of Income within the due date, which had been extended to 30.11.2023. As per Rule 17B of the Income Tax Rules, 1962, the petitioner was required to file Form 10BB one month prior to the due date for filing the Return of Income under Section 139 (1) of the Act. In other words, the petitioner ought to have filed the Audit Report in Form 10BB on or before 30.09.2023. 3. In this background, the Return of Income filed by the petitioner on 30.11.2023 was taken up for processing and an intimation under Section 143(1) was issued to the petitioner on 29.10.2024. Consequently, the benefit of Sectio....

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....ical records of Ms.B. Anuradha for all the AYs for which there is delay in filing the audit report. If the managing trustee is not in a position to file the statutory obligations on time, then the other Trustees could have tried to file the form on time. But the assessee has not done so. From the e-filing portal it is seen that the assessee has started filing Form 10B and return for the first time only after receipt of notice u/s 148 for the AY 2016-17 and 2019-20. For the other years viz., 2020-21 to 2022-23, the assessee filed updated return u/s 139(8A) by paying Rs. 1000/-. 4.3 The assessee Trust has stated that the Managing Trustee was not in sound health for the past 10 years that too suffering from Post traumatic stress disor....

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....0, as referred to in Paragraph Nos. 5 and 6 of the said Circular, wherein it has been stated as follows:- "it has also been decided by the CBDT that where there is delay of upto 365 days in filing Form No.10BB for the AY 2018-19 or for any subsequent AYs, the Commissioners of Income Tax are hereby authorized to admit such belated applications of condonation of delay u/s 119(2) of the IT Act and decide on merits. The Commissioner of Income Tax shall, while entertaining such belated applications in filing Form No.10BB, satisfy themselves that the assessee was prevented by reasonable cause from filing such application within the stipulated time..." 6. The reasons stated in the application for condonation of delay were that....

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....uty of the Department to collect or to retain the tax amount, which is not due to it, and is legitimately due to an assessee. 12. Reference is made to Paragraph No.12 of the aforesaid Judgment, wherein the Hon'ble Supreme Court held as under:- "12. For the aforementioned reasons, we are of the view that denial of benefit of the notification to the appellant was unfair. There can be no doubt that the authorities functioning under the Act must, as are in duty bound, to protect the interest of the Revenue by levying and collecting the duty in accordance with law - no less and also no more. It is no part of their duty to deprive an assessee of the benefit available to him in law with a view to augment the quantum of duty for the....