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Income Tax Appellate Tribunal, ‘A’ BENCH, CHENNAI
Before: HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM & HON’BLE SHRI MANU KUMAR GIRI, JM
M.A. No.58/Chny/2024 [In (िनधा9रण वष9 / Assessment Year: 2021-22) & Income Tax Officer Webbs Memorial Orphanage बनाम/ Exemption Ward-2 41, Main Road, Saint Thomas Mount Vs. Chennai Chennai – 600 016 "थायीलेखासं./जीआइआरसं./PAN/GIR No. AADTM-7709-H (अपीलाथ"/Appellant) : (" थ" / Respondent) अपीलाथ" कीओरसे/ Appellant by : Shri N.S. Phanidharan (JCIT) - Ld. DR " थ"कीओरसे/Respondent by : Shri P. Ranga Ramanujam (CA) – Ld. AR सुनवाई की तारीख/Date of Hearing : 20-09-2024 घोषणा की तारीख /Date of Pronouncement : 20-09-2024 आदेश / O R D E R Manoj Kumar Aggarwal (Accountant Member)
By way of this miscellaneous application, the revenue seeks our indulgence in Tribunal order passed in captioned appeal on 10-05-2024. In the order, the bench granted exemption u/s 11 /12 to the assessee by condoning delay of 3 days in filing of Audit Report in Form No.10B. In the application, it has been submitted that as per extant CBDT Circulars, the assessee was required to file condonation application before appropriate authority and the Tribunal has erred in condoning the delay. However, Ld. AR brought on record a fact that the assessee does not hold relevant registration for this year to lay claim on the aforesaid deduction u/s 11 / 12. Accordingly, Ld. AR fairly submitted that the order may be recalled. At the same time, Ld. AR pleaded that the income was to be computed on net basis after allowing expenditure. For the same, Ld. AR referred to newly introduced sub-section (10) in Sec.13 by Finance Bill, 2022 governing computation of income under these circumstances.
Considering the rival submissions, we recall Tribunal order passed in captioned appeal on 10-05-2024 and restore the appeal back to its original status. The application stand allowed. 3. With the consent of both the sides, the appeal was taken up for hearing and final disposal. Accepting the limited prayer of Ld. AR, we restore the issue of computation of income back to the file of Ld. CIT(A) with a direction to the assessee to substantiate its claim. For computation of income, guidance may be taken from newly introduced provisions as cited by Ld. AR. No other ground has been urged in the appeal. The appeal stand partly allowed for statistical purposes. 4. The misc. application stand allowed. The appeal stand partly allowed for statistical purposes. Order pronounced on 20th September, 2024. (MANU KUMAR GIRI) (MANOJ KUMAR AGGARWAL) "ाियक सद4 / JUDICIAL MEMBER लेखा सद4 / ACCOUNTANT MEMBER चे2ई Chennai; िदनांक Dated : 20-09-2024 DS आदेश की Nितिलिप अ/ेिषत / Copy of the Order forwarded to : 1. अपीलाथ"/Appellant 2. " थ"/Respondent 3. आयकरआयु;/CIT Chennai. 4. िवभागीय"ितिनिध/DR 5. गाड@फाईल/GF