M/s Trilok Singh Bhandari Charitable Trust Vs Income Tax Officer

Parties Involved

Facts Summary

The assessee, a charitable trust registered under section 12A of the Income Tax Act, filed a return for the Assessment Year 2018-19 on 20.09.2018 declaring NIL income. Since the audit report in Form no. 10B was not filed along with the return, the assessee's claim of exemption under section 11 was disallowed by the CPC, and income was assessed at Rs. 12,99,869/-. The assessee filed an application for rectification under section 154 of the Act, which was rejected. The assessee then filed an appeal before the CIT(A), which was dismissed. The assessee is now in appeal before the Tribunal.…

Legal Issues

• 1. Whether the Commissioner of Income Tax (Appeals) erred in upholding the determination of the income of the appellant trust at Rs. 12,99,869/-?
• 2. Whether the Commissioner of Income Tax (Appeals) erred in dismissing the appeal on the ground that he had no power to condone the delay in filing Form No. 10B?

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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