TaxTMI 
TaxTMI 
2026 (6) TMI 1441
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....he assessee is in appeal before the Tribunal raising the following grounds of appeal: "1. That the Ld. Addl./Joint Commissioner of Income-tax (Appeals), Gwalior was wrong in dismissing the Grounds of Appeal taken against the denial of Exemption as per the Third Proviso to Section 10(23C)(vi) for an aggregate sum of Rs. 23,31,99,217. 2. That without prejudice to the contention raised in Ground No. (1) above, the Ld. Addl./Joint Commissioner of Income-tax (Appeals), Gwalior failed to appreciate that the appellant had furnished its Return of Income within the extended due date of 31/05/2021 and thus he erred in not considering that the appellant had duly complied with the requirement of furnishing the Return of Income in acco....
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....the Ld. Addl/JCIT(A) condoned the delay of 8 days in filing the appeal but on the merits of the case, the Ld. Addl/JCIT(A) observed that the assessee had failed to validly e-file the audit report in Form No. 10BB within the specified due date as required u/s 12A(1)(b) of the Act, and the delay had not been condoned by the appropriate authority u/s 119(2) of the Act in accordance with CBDT Circular No. 16/2022, and as the appellate authority possessed no power to grant such condonation, the appeal was dismissed. 4. Aggrieved with the order of the Ld. Addl/JCIT(A), the assessee has filed the appeal before the Tribunal. 5. Rival contentions were heard and the submissions made have been examined. It was submitted by the Ld. AR that the ex....
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....cial principle and the entire receipts could not be assessed as income. Further, under section 143(1) of the Act, there is no provision for disallowing the expenditure claimed as prima facie adjustment. Moreover, filing of Form No. 10BB has been held to be procedural and directive in nature and not mandatory and we rely upon the decision of the coordinate Bench in the case of M P Birla Foundation Educational Society v. Dy. Commissioner of Income Tax (Exemption), Kolkata in I.T.A. No.: 989/KOL/2025 order dated 10.09.2025 for A.Y. 2018-19 wherein it has been held as under: "7. We have considered the submissions made, gone through the facts of the case and perused the record and the order of the Ld. CIT(A). It is noted that Form No.10....
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.... 365 days up to 3 years from the assessment year 2018-19 or for subsequent year. Applying the said circular the learned Tribunal affirmed the order passed by the CIT (Appeals) in grounds before us in this appeal. The revenue has not dealt with the said circular nor anything has been brought on record to show that Circular No. 16 of 2022 dated 19-07-2022 cannot be applied to the case on hand. The Commissioner of Income Tax (Exemptions) while rejecting the application for condonation of delay by order dated 17-08-2020 has referred to the Circular No. 2 of 2020 dated 3.1.2020 which admittedly gives power to condone the delay in filing Form 10B up to a period of 365 days. The CIT (Appeals), NFAC also took note of a decision of the High....