Birkodar Pramila Charitable Trust Vs. ITO(Exemption), Jamshedpur

Parties Involved

Facts Summary

The assessee, Birkodar Pramila Charitable Trust, is a charitable trust that manages two units of schools in the name of SBB Vidhya Vihar. The trust filed its return of income for the Assessment Year 2016-17 on 31.03.2017, declaring a total income of ₹9,51,170/-. The case was selected for scrutiny, and the assessment was completed with an assessed total income of ₹38,18,090/-. A penalty was imposed under Section 271B of the Income Tax Act, 1961 for the late filing of the audit report. The assessee appealed against the penalty, citing the medical condition of the trustee's husband as the reason for the delay.…

Legal Issues

• 1. Whether the penalty imposed under Section 271B of the Income Tax Act, 1961 for the late filing of the audit report should be deleted?

Judgment Outcome

Decided in favour of Assessee.

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