M/S AKKI BAI OSWAL TRUST,LUDHIANA vs. INCOME TAX OFFICER ( EXEMPTIONS), JALANDHAR

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ITA 206/ASR/2023Status: DisposedITAT Amritsar23 August 2023AY 2022-233 pages

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

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal dismissed the assessee's appeal, noting that the application for condonation of delay in filing Form 10B was pending before the CIT(E). The assessee was granted liberty to file a fresh appeal or seek recall after the pending action is completed.

What were the facts?

The assessee, a trust, filed its audit report in Form 10B with a delay. Consequently, its exemption was rejected by the CPC. The CIT(A) dismissed the assessee's appeal, confirming the demand.

What were the issues?

Whether the exemption of a trust should be rejected solely due to a delay in filing Form 10B, and if the pending condonation of delay application before the CIT(E) warrants a different approach by the appellate tribunal.

Which sections of the Income-tax Act were involved?

Section 143(1),Section 250

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, AMRITSAR BENCH, AMRITSAR.

Before: DR. M. L. MEENA & SH. ANIKESH BANERJEE

Hearing: 21.08.2023Pronounced: 23.08.2023

ORDER Per: Anikesh Banerjee, JM: The instant appeal of the assessee was filed against the order of the ld. NFAC, Delhi, (in brevity ‘the CIT (A)’) order passed u/s 250 of the Income-tax Act, 1961 (in brevity the Act) for assessment year 2022-23. The impugned order was emanated from the order of the ld. CPC, Bengaluru, (in brevity the ld. AO) order passed u/s 143(1) of the Act.

2.

Brief fact of the case is that the assessee is a trust and filed audit report in Form 10B in delay. So, the entire exemption of Trust was rejected by the CPC.

The assessee filed the appeal before the ld. CIT(A) by challenging the intimation. The assessee prayed to accept the Audit report and quash the demand. Later, the Circular was issued by the CBDT bearing no. 16/2022 dated 19.07.2022 for extension of time for delay in filing the Form 10B. The assessee applied for this, and the matter is pending before the ld. CIT(E). But the ld. CIT(A) rejected the submission of the assessee and confirmed the demand and dismissed the appeal of the assessee. Being aggrieved assessee filed an appeal before us.

3.

The ld. AR in his argument stated that the assessee made delay in filing Form 10B before the authority. The ld. AR relied on the CBDT Circular no. 16/2022 dated 19.07.2022. A copy of the audit report is enclosed in APB pages 3 to 11. The matter is pending before the ld. CIT(E) for consideration of the audit report filed in delay. The ld. AR prayed for abatement of the appeal petition and request for further recall the matter after completion of pending action of the assessee,

4.

The ld. DR had not made any objection against the submission of the ld. AR.

5.

The assessee applied for condonation of delay for filing the audit report in Form 10B. The matter is still pending before the ld. CIT(E) for acceptance.Thus, in view of the above, we dismissed the present appeal filed by the assessee with liberty that upon completion of pending action, the assessee may prefer to appeal a fresh or seek recall of order after fixation of pending action.

6.

In the result, the appeal of the assessee bearing is dismissed.

Order pronounced in the open court on 23.08.2023

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