2025 (8) TMI 1814

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....u/s 250 of the Income Tax Act, 1961 (in short 'the Act') for the A.Y. 2023-24. 2. In this case, the Assessee e-filed its audit report in form no.10B on dated 30.11.2023 before e-filing of its return of income for the assessment year under consideration on dated 30.11.2023 within the extended due date i.e. 30.11.2023. Subsequently, the return filed by the Assessee was processed u/s 143(1) of the Act and vide intimation/order dated 19.11.2024 the total income of the Assessee was assessed at Rs. 2,57,71,434/- as against the taxable income of Rs. 66,094/- as shown by the Assessee, by making additions by way of adjustment to the tune of Rs. 2,57,05,340/- in total. 3. The Assessee, being aggrieved, challenged the said addition by way of adj....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... Form 10B, 30 days prior to filing of the return of income u/s 139(1) of the Act is mandatory and cannot be sidelined and thus both the authorities below have rightly disallowed the claim of deductions by their respective orders. 6. We have heard the parties and perused the material available on record. Admittedly, the Assessee has not filed Form 10B before one month of due date of submitting the income tax return u/s 139(1) of the Act, as specified in section 44AB of the Act. However, it is a fact that the Assessee had duly furnished Form no.10B online on dated 30.11.2023 before filing of its return of income for which the last date was extended up to 30.11.2023 and/or the Form 10B has been made available before the processing of the re....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Tax (Exemption) Vs. Laxminarayandev Shikshan Seva Kendra (2024) 167 taxmann.com 548 (Guj.) (10.09.2024) has also dealt with the issue "wherein the Form 10B was filed during the course of appellate proceedings before the Commissioner (Appeals) who allowed the benefit of section 11 of the Act to the Assessee" and the Tribunal upheld the said decision of the Ld. Commissioner. The Hon'ble Gujarat High Court by taking cognizance of the fact and the decision of the Sarvodaya Charitable Trust case (supra) approved the decision of the Tribunal in following the judgment of the Social Securities Scheme of GICEA Vs. Commissioner of Income Tax (Exemption), Ahmedabad dated 21.12.2022 in Special Civil Application No.17612 of 2022, wherein it has been ....