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Furnishing of Form No. 10B before due date prescribed in section 44AB mandatory w.e.f. 1.4.2020
Case Law Details
- Case Name
- The Dadabhai Kavasji Tata School Trust Vs ITO (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2015-16
- Courts
- All ITAT, ITAT Mumbai
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The Dadabhai Kavasji Tata School Trust Vs ITO (ITAT Mumbai)
Provisions of section 12A(1)(b) requiring the assessee to furnish audit report has been amended w.e.f. 1.4.2020. Prior to the amendment, the audit report has to be filed along with the return of income. Requirement of furnishing audit report before the due date prescribed in section 44AB has been made mandatory w.e.f. 1.4.2020 only.
In the instant case, we noticed earlier that the assessee has filed audit report in Form No. 10B along with the return of income filed on 30.3.2017. We noticed that the requirement of filing audit report b...
For technical defaults like delay filing of returns or reports, the statutory deductions or exemptions should be allowed if the assessee fulfill the basis compliance to meet justice.