2026 (4) TMI 770

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.... 2. Ld. JCIT(A) erred in law and on facts in deciding appeal ignoring various submissions. 3. Ld. JCIT(A) erred in law and on facts in rejecting benefit u/s 11 of the Act of Rs. 48,62,530/- ignoring fact that Form 10B filed subsequently and accordingly, same is considered as technical default which does not take away fundamental rights. 4. Ld. JCIT(A) ought to have granted benefit u/s 11 of the Act considering various submissions made by appellant. 5. Without prejudice to the above and in alternative, Ld. NFAC ought to have give direction to compute income on commercial principle and real income theory. 6. Charging of Interest u/s 234A, 234B, 234C are unjustified." 3. The assessee is a trust and....

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....ce by Email 27/12/2023 7 Reply filed to PCIT office by Email 03/01/2024 8 Reply filed to PCIT office by Email 20/07/2024 9 Reply submitted Online 06/01/2025 10 Rejection order by PCIT 28/01/2025 7. The Ld. AR submitted that the assessee trust filed Form 10B subsequently but while filing return of income thereby claiming benefit of Section 11 and 12 as caused procedural error which does not take away statutory right of the assessee trust for denial of claim of benefits of Section 11 and 12 of the Income Tax Act. The Ld. AR submitted that the assessee trust had filed return of income declaring total income as NIL and is registered under Section 12A of the Act. The Ld. AR relied upon the following deci....

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....tention of the Ld. DR that the delay is deliberately does not have substantial support. Hence, the delay in filing the appeal before the CIT(A) cannot bare the assessee trust to claim the exemption which otherwise if Form 10B would have been filed within the stipulated time itself. On 27.11.2023 which is almost the seven years delay from the date of filing of original return and that also five years from the date of intimation order. This delay cannot be entertained but looking into the decision of Hon'ble Supreme Court in case of Aurangabad Electricals Pvt. Ltd. vs. Commissioner of Central Excise And Customs, Aurangabad (2011) 1 Supreme Court Cases 121, in the interest of justice, the technicality should come after the said interest of jus....