2025 (4) TMI 2022

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....e is directed against the order of the Commissioner of Income Tax (Appeals)-4, Chennai [CIT(A)] dated 29.01.2025 for Assessment Year (AY) 2023-24. 2. Brief facts of the case are that the appellant filed the return of income for AY 2023-34 on 18.11.2023 declaring Nil income after claiming exemption u/s. 11 of the Income Tax Act, 1961 (the Act). The said return of income was processed by the CPC ....

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....9(1) of the Act after claiming exemption u/s. 11 of the Act. However, admittedly the appellant trust had filed the prescribed audit report in Form 10BB belatedly, whereas the return of income was processed u/s. 143(1) of the Act vide intimation dated 25.11.2024 after making adjustment by disallowance of claim for exemption u/s. 11 of the Act on the ground that the prescribed audit report was not f....