ODISHA REAL ESTATE REGULATORY AUTHORITY,BHUBANESWAR vs. CIT(EXEMPTION), HYDERABAD, HYDERABAD

ITA 308/CTK/2025Status: DisposedITAT Cuttack02 December 2025AY 2021-22Bench: SHRI GEORGE MATHAN (Judicial Member), SHRI RAJESH KUMAR (Accountant Member)1 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that Section 10(46) of the Act does not mandate the filing of an audit report. Therefore, the intimation under Section 143(1) allowing the exemption was not erroneous. A notification issued by the CBDT cannot override the provisions of the Income Tax Act.

What were the facts?

The assessee, Odisha Real Estate Regulatory Authority, was granted exemption under Section 10(46) of the Income Tax Act. The CIT(Exemption) passed an order under Section 263, holding that the exemption should not be granted because the assessee failed to file an audit report.

What were the issues?

Whether the exemption under Section 10(46) of the Act can be denied for non-filing of an audit report when not statutorily required.

Which sections of the Income-tax Act were involved?

Section 10(46),Section 263,Section 143(1),Section 288(2)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, CUTTACK BENCH CUTTACK

Before: SHRI GEORGE MATHAN & SHRI RAJESH KUMAR

Hearing: 02/12/2025Pronounced: 02/12/2025

Per Bench : This is an appeal filed by the assessee against the order passed by the ld. CIT(Exemption), Hyderabad, dated 17.03.2025 passed u/s.263 of the Act for the assessment year 2021-2022. 2. It was submitted by the ld. AR that the assessee is Odisha Real Estate Regulatory Authority and it is notified u/s.10(46) of the Act. It was the submission that the return filed by the assessed came to be

The order continues below.

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