MANTHAN FOUNDATION,HYDERABAD vs. DCIT., EXEMPTION CIRCLE-1(1), HYDERABAD

PDF · subscribers
ITA 375/HYD/2024Status: DisposedITAT Hyderabad05 July 2024AY 2022-2023Bench: SHRI K. NARASIMHA CHARY (Judicial Member)3 pages

In favour of the assessee: the assessee's appeal was allowed. From the AI summary of this appeal.

AI SummaryAllowed

What did the Tribunal hold?

The tribunal held that the requirement of filing Form 10 is directory, not mandatory. Failure to file it before the due date is not fatal if the form is available when the intimation is processed.

What were the facts?

The assessee, a trust, inadvertently failed to file Form 10 for AY 2021-22 before the due date, though it was filed belatedly before assessment finalization. The CPC disallowed exemption under Section 11(2) due to this lapse.

What were the issues?

Whether the belated filing of Form 10 can lead to denial of exemption under Section 11(2) of the Income Tax Act, 1961.

Which sections of the Income-tax Act were involved?

Section 11(2),Section 139(1),Section 143(1),Section 119(2)

AI-generated summary — verify with the full judgment below

Cases cited in this judgment(1)Show list

Detected automatically from the text. Citations are also linked where they appear in the judgment. The count shows how many other judgments on BharatTax rely on the same authority.

Income Tax Appellate Tribunal, HYDERABAD BENCHES “SMC”, HYDERABAD

Before: SHRI K. NARASIMHA CHARY

Hearing: 13/06/2024

आदेश / ORDER Aggrieved by the order dated 24/03/2024 passed by the learned Commissioner of Income Tax (Appeals)- Na�onal Faceless Appeal Centre (NFAC), Delhi (“Ld. CIT(A)”), in the case of Manthan Founda�on (“the assessee”) for the assessment year 2022-23, assessee preferred this appeal. 2. Assessee is a trust. Its case is that while filing the return of income for the assessment year 2021-22, inadvertently it failed to file Form 10, which it filed the same belatedly, but before the assessment was finalised. Because of such lapse, CPC while processing the return, issued an intimation under section 143(1) of the Income Tax Act, 1961 (for short “the Act”) disallowing exemption claimed by the trust under section 11 (2) of the Act. Assessee preferred appeal before the Ld. CIT(A), but the Ld. CIT(A) by way of impugned order held that the AO-CPC rightly disallowed the assessee’s claim of exemption under section 11/12 of the Act in the absence of audit report filed after due date prescribed under section 139(1) of the Act, and accordingly dismissed the appeal of the assessee. 3. Hence the assessee filed this appeal contending that the requirement of filing Form 10/10B is merely directory in nature and failure to furnish the same before the due date

More judgments on Section 11(2)

All 762 judgments and leading authorities on Section 11(2) →

Recent GST High Court judgments

Search GST case law →