INCOME TAX OFFICER (EXEMPTIONS), BHUBANESWAR, BHUBANESWAR vs. NAVODAYA TRUST, BHUBANESWAR

Brief facts of the case are that the assessee has filed its return of Brief facts of the case are that the assessee has filed its return of Brief facts of the case are that the assessee has filed its return of income on 2.11.2022, which was processed u/s.143(1) of the Act dated income on 2.11.2022, which was processed u/s.143(1) of the Act dated income on 2.11.2022, which was processed u/s.143(1) of the Act dated 4.4.2023, wherein, exempt 4.4.2023, wherein, exemption claimed by the assessee u/s.11 has been ion claimed by the assessee u/s.11 has been denied and the gross receipts has been taxed. Against this, the assessee denied and the gross receipts has been taxed. Against this, the assessee denied and the gross receipts has been taxed. Against this, the assessee P a g e 1 | 3 had preferred appeal before the ld CIT(A), who vide his order dated 19.1.2024 has allowed the exemption claimed by the assessee. Being aggrieved, the revenue is in appeal before us.

Before us, ld CIT DR supported the order of the Assessing Officer and submitted that the return was filed late as the due date for filing the return was 31.10.2022 and the return of income was filed on 2.11.2022 alongwith Form 10B of the Act. Therefore, the assessee is not entitled to claim exemption allowed to it u/s.12A of the Act.

Per contra, ld AR of the assessee stated that CBDT vide its circular No.20/2022 dated 26.10.2022 has extended the time limit for filing the return of income from 31.10.22 to 7.11.2022 and furnished copy of the CBDT Circular, which is available in paper book at Page-1. He submitted that since the due date of filing of return was already extended and the return of income has been filed within the due date, therefore, the assessee is eligible for exemption available to it. He further drew our attention to page 1 of the intimation u/s.143(1) of the Act, wherein, it is mentioned against Item extended due date is 7.11.2022 and the date of filing is 2.11.2022. Thus, he requested to confirm the order of the ld CIT(A) in allowing the exemption to the assessee.

We have considered the rival submissions and perused the record of the case. On perusal of CBDT circular No.20/2022(supra) we find that the P a g e 2 | 3 date of filing of return u./s.139(1) of the Act was extended upto 7.11.2022 for the assessment year 2022-23. In the instant case, the assessee has filed its return of income alongwith Form 10B on 2.11.2022, which is within the time limited prescribed u/s.139(1) of the Act and also within the extended time limit by CBDT. Therefore, we are in agreement with the observations of ld CIT(A) that the assessee is entitled for exemption u/s.12A of the Act and reject the grounds of appeal raised by the revenue.

In the result, appeal of the revenue stands dismissed.

SD/- SD/- (George Mathan) (Manish Agarwal) JUDICIAL MEMBER ACCOUNTANT MEMBER Cuttack; Dated 03/06/2024 B.K.Parida, SPS (OS) Copy of the Order forwarded to : 1. The Appellant : Income Tax Officer (Exemptions), Bhubaneswar 2. The Respondent: Navodaya Trust, Plot No.1881(3 and 4), Infront of BPCL Petrol Pump, Chandrasekharpur, Bhubaneswar 3. The Addl.JCIT(A)-1, Vadodara 4. Pr.CIT, Bhubaneswar 5. DR, ITAT, 6. Guard file. By order //True Copy//