ITA No.1398/Ahd/2024

Parties Involved

Facts Summary

The Centralized Processing Center (CPC) disallowed the exemption claimed by the assessee under section 11 of the Act due to the late filing of the audit report in Form No.10B. The assessee filed the audit report on 20.1.2020, even before the issuance of the initiation by CPC on 23.3.2020. The same issue was adjudicated in the case of the assessee for Asst.Year 2018-19 in ITA No.441/Ahd/2020. The audit report for assessment year 2018-19 was duly signed by the auditor on 21-09-2018, though it was omitted to be filed on the income tax portal. The due date of filing of the income tax return for assessment year 2018-19 was 26-09-2018. Notice under section 143 (1) (a) was issued on 19-12-2019. The audit report of the assessee trust was filed on the income tax portal by the auditors of the assessee trust on 20-01-2020. The CPC, Bengaluru issued an intimation under section 143 (1) denying the claim of the application of income on 08-02-2020.…

Legal Issues

• 1. Whether the Ld. CIT(A) erred in not allowing exemption of Rs.28,68,546/- u/s.11 of the act?
• 2. Whether the Ld. CIT(A) erred in confirming adjustment of Rs.28,68,546/- u/s.143(1) of the act?
• 3. Whether the Ld. AO erred in raising demand of Rs.874,780/- while processing return u/s.143(1) of the act?

Judgment Outcome

Decided in favour of Assessee.

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