TaxTMI 
TaxTMI 
2026 (8) TMI 682
X X X X Extracts X X X X
X X X X Extracts X X X X
....sment Year is 2021-22. 2. The solitary issue that is argued by the Ld.AR is that the FAA has erred in confirming the intimation issued u/s. 143(1) of the Act, wherein the claim of exemption u/s. 11 of the Act was denied solely for the reason that Form 10B was filed belatedly by one day. 3. Brief facts of the case are as follows: The assessee is a trust. It is stated that assessee has got registration u/s. 12AA of the Act. For the assessment year 2021-22, the return of income was filed by the assessee trust on 16.02.2022 declaring the nil income after claiming exemption u/s. 11 of the Act. The due date for filing the audit report in Form No.10B was 15.02.2022. The assessee trust had filed Form 10B only on 16.02.2022 (delay of one day).....
X X X X Extracts X X X X
X X X X Extracts X X X X
....Officer to grant exemption u/s. 11 of the Act. 6. The Ld.DR supported the findings of the FAA. 7. We have heard the rival submissions and perused the material available on record. We find that the issue arising in the present appeal is squarely covered by the order of the Chennai Bench of the Tribunal in the assessee's own case for the assessment year 2020- 21 in ITA No.1568/CHNY/2025, dated 15.10.2025. On identical facts, the Tribunal held that the delay of 19 days in filing the audit report in Form No.10B is merely a procedural and directory requirement and cannot be a ground to deny exemption under section 11 of the Act. After considering the rival submissions and various judicial precedents, the Tribunal categorically held tha....
X X X X Extracts X X X X
X X X X Extracts X X X X
....High Court after considering the decision of the Apex Court in WiproLimited (supra) held as follows: "5. Reliance placed by the learned Senior Standing Counsel Ms.Maithili Mehta for the assessee on the decision of the Hon'ble Supreme Court in case of The Principal Commissioner of Income Tax-III and Others versus M/s. Wipro Limited in Civil Appeal No.1499 of 2022 would not be applicable in the facts of the case, as in the facts of the present case, the assessee has claimed the exemption under Section 11 read with Section 12A (1) (b) of the Act which required the assessee to file Audit Report in Form of 10B of the Act which has nothing to do with claiming 100% exemption of total income in respect of newly established 100% Export Orie....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ax Officer (Exemption) in Special Civil Application No. 6097 of 2020 decided on 09th December, 2020 as well as the decision in case of Social Security Scheme of GICEA (supra) to uphold the decision of the CIT (Appeals), wherein this Court has held that the approach of the authority in such type of cases should be equitable, balancing and judicious. In the facts of the case, when the assessee has already filed the audit report in Form 10B electronically on 27.02.2021 during pendency of appellate proceedings along with copy of audited financial statements, delay in filing the said form is rightly condoned by CIT(A) and the Tribunal. 8. In such circumstances, we are of the opinion that the Tribunal has not committed any error by not f....
X X X X Extracts X X X X
X X X X Extracts X X X X
....nate bench was of the view that the filing of Form 10B was only directory in nature and not mandatory. 10. In view of the above, the Ld.AR prayed that the assessee be granted exemption u/s. 11 since the filing of Form 10B is only directory and not mandatory in nature and that the substantive conditions for claiming exemption were fulfilled in the instant case. 11. On the other hand, the Ld.DR of the Revenue objected to the submissions of the Ld.AR and relied on the findings of the Ld. CIT(A). 12. We have heard the rival contentions and perused all the material available on record before us and the judicial precedents relied on. We observe that the assessee has to comply with certain conditions failing which the as....
X X X X Extracts X X X X
X X X X Extracts X X X X
....in the case of Chandraprabhuji Maharaj Jain (supra) held that the requirement of filing audit report in Form 10B before the due date as per Rule 12A(1)(b) is directory in nature and not mandatory. 15. We further note that the decision of the Ahmedabad Bench of the Hon'ble Income Tax Appellate Tribunal in Association of Indian Panelboard Manufacturer v DCIT [2022] 143 taxmann.com 418 (Ahmedabad Trib.) referred to by the Ld. CIT(A) stands reversed by the decision of the Hon'ble Gujarat High Court in the case of Association of Indian Panelboard Manufacturer v DCIT [2023] 157 taxmann.com 550 (Guj) and that the decision of the Hon'ble Supreme Court in Wipro Limited (supra) relied upon by the Ld. CIT(A) has clearly been distinguished by ....