BHARATHI EDUCATIONAL TRUST,NAMAKKAL vs. ITO, EXEMPTION WARD, SALEM, SALEM

The assessee filed his return of income and the same was processed under section 143(1) of the Income Tax Act, 1961 [“Act” in short] and computed the income of the assessee at ₹.99,84,155/- as 2 against NIL income returned. The assessee filed an appeal before the NFAC along with written submissions stating that mistakenly the assessee mentioned the section as 10(23C)(iv) of the Act. It was also submitted that the mistake was a technical breach and that the assessee satisfies all conditions for claiming exemptions under section 10(23C) (iiiad) of the Act. The first appellate authority requested the assessee to upload a copy of Form 10B along with the date it was filed with the department. Since the assessee could not upload Form 10B, the ld. CIT(A) confirmed the intimation order passed by the CPC.

Before us, the ld. AR Shri T.S. Lakshmi Venkataraman, F.C.A. submits that the assessee wrongly mentioned section in its audit report in Form 10B. He submits that the assessee sought for an adjournment for uploading Form 10B as requested by the first appellate authority vide his notice dated 30.07.2024. However, without considering the adjournment petition, the ld. CIT(A) dismissed the appeal of the assessee and prayed to remand the matter to the file of the ld. CIT(A) for fresh consideration.