Vikalp Education Society Vs. DCIT

Parties Involved

Facts Summary

The assessee, Vikalp Education Society, is an education society registered under section 12A of the Income-tax Act, 1961, running a school named Vikalp Public High School. For the assessment year 2022-23, the assessee filed its return of income under section 139(1) on 06.11.2022, within the due date of 07.11.2022. However, the audit report in Form 10B was uploaded on 28.10.2022, 21 days beyond the prescribed due date of 07.10.2022. The assessee claimed that the delay was unintentional and due to a lack of familiarity with the amended provisions. The exemption claimed under section 11 of the Act was denied by the CPC on the ground of belated filing of the audit report. This issue was previously adjudicated by the Tribunal in the case of Shambhu Dayal Modern School Vs. ITO(E), where it was held that the requirement of filing Form 10B is procedural, and as long as it is made available to the Assessing Officer before the conclusion of assessment, the exemption cannot be denied.…

Legal Issues

• 1. Whether the ld CIT(A) was justified in denying the exemption under section 11 of the Act due to the belated filing of the audit report in Form 10B.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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