2026 (3) TMI 282

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....2024 has been rejected for the Assessment Year 2023-2024. Operative portion of the impugned Order reads as under:- "6. Decision: I have carefully examined the facts of the case and the submissions of the assessee. Further, the CBDT vide Circular No.2/2020, dated 03- 01-2020 in para 5 & 6 has directed as under: "it has also been decided by the CBDT that where there is delay of upto 365 days in filing Form No.10B for the Assessment Year 2018-19 or for any subsequent Assessment Years, 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....

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....onors, which means it is expected to be more vigilant in adhering to the statutory timelines. 6.3. The reasons stated by the assessee are not cogent and the assessee has not established any reasonable cause for the delay in filing Revised Form 10B for the Assessment Year 2023-24. The statutory compliances has to be duly complied with and the assessee should have ensured that adequate steps are taken, so that the law is complied with well within time. The same had to be looked after or adequately managed by the management of the Trust or Chartered Accountants who has been made responsible for statutory compliances. 6.4. The assessee in its petition relied on the case law CIT Vs. Hardoedas Agarwalla in which it was held that....

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.... had failed to file Tax Audit Report in Form 10B within the stipulated time and filed it belatedly along with Return of Income. 4. It is in this background, the Petitioner has filed an application on 15.03.2024 before the Respondent for condonation of delay, which has been rejected by the Respondent vide impugned Order. 5. The facts on record as also the impugned Order reveal that the Petitioner has filed the revised Tax Audit Report in Form 10B subsequently on 08.11.2024. This has been considered by the Respondent while rejecting the application filed for condonation of delay in filing Form 10B by the impugned Order under Section 119(2)(b) of the Income Tax Act, 1961. 6. It is noticed that the Respondent has relied on Circular No.....