Home Income tax Corporate Income tax Type 10B Submitting Condone If Filed Previous to Due Date of ITR U/S 139

Type 10B Submitting Condone If Filed Previous to Due Date of ITR U/S 139

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Type 10B Submitting Condone If Filed Previous to Due Date of ITR U/S 139
Raipur ITAT'S Order for Jain Shwetamber Murtipujak Sangh

In a ruling, the Revenue Tax Appellate Tribunal (ITAT), Raipur bench has instructed the Revenue Tax Division to permit the delayed submitting of Type 10B. Nevertheless, the situation was offered by the bench that it ought to be filed earlier than the “due date” of submitting of return of earnings beneath Part 139 of the Revenue Tax Act, 1961.

The appellant assessee, Jain Shwetamber Murtipujak Sangh, is a religious-cum-charitable belief registered with the CIT (Exemption), Bhopal, beneath Part 12AA(1)(b)(i) of the Revenue Tax Act, 1961. The assessee belief has been registered following an order dated July 11, 2016, which is in impact after April 1, 2015. After claiming an exemption beneath Part 11 of the Act, the assessee belief e-filed its return of earnings beneath Part 139(4) of the Revenue Tax Act, 1961 declaring zero earnings.

The DCIT, CPC, Bangalore, issued a notification on March 29, 2019, declining the assessee’s request for an exemption beneath Part 11(2) of the Revenue Tax Act, citing that such a request might solely be granted if the Return of Revenue kind was filed electronically by the “due date” laid out in Part 139(1) of the Act.

On June 21, 2019, the assessee submitted Type 10B and appealed to the CIT (Appeals), together with a request for correction of the error beneath Part 154 of the Act.

In view of the attraction, the CIT (Appeals) famous that the assessee belief had submitted Type 10B r.w.r. 12(2) of the Revenue Tax Guidelines, 1962, on June 21, 2019, which was effectively after the “due date” for submitting its return of earnings beneath Part 139 of the Act. The CIT(Appeals) noticed that the delay in submitting Type 10B might solely be condoned if Type 10B was filed earlier than the “due date” of submitting of return of earnings beneath part 139 of the Act.

Nevertheless, it has been questioned by the Departmental Representatives (DR) that for the reason that assessee-trust was sure to e-file/add its “audit report” beneath Part 12A(b) of the Act in Type 10B, its return of earnings for the 12 months is into account, which he didn’t file. Due to this fact, the DCIT duly rejected the assessee’s entitlement for exemption beneath Part 11 of the Act.

Learn additionally: Appropriate Revenue Tax Return Submitting Due Dates for FY 2022-23

A single-member bench of Ravish Sood, Judicial Member famous that The assessee-trust doesn’t cumulatively meet the set of necessities outlined in Paragraph 4(i) of CBDT Round No. 10 (supra), and it has not filed any purposes for a delay condonation beneath Part 119(2)(b) of the IT Act as offered in Paragraph 4(ii) of the mentioned round. Accordingly, there isn’t a justification for condoning the assessee-trust’s delay in submitting Type 10B.

The choice of rejecting the assessee’s request for exemption beneath Part 11 of the Revenue Tax Act was upheld by the ITAT. Nevertheless, the bench reinstated the problem to the file of the A.O. with an order to take the assessee’s declare into consideration for the deduction of bills as debited within the earnings and expenditure account.

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