Betalish Dash Vs CIT(Exemption) (ITAT Ahmedabad)
ITAT Ahmedabad held that assessee trust well aware of the denial of registration under section 12AB of the Income Tax Act will not be entitled to claim benefit of exemption under section 11 since appeal filed after delay of 1350 days which is not condoned.
Facts- The present appeal is filed by the assessee against the denial of registration under section 12AB of the Income Tax Act vide the order passed by the Commissioner of Income Tax (Exemption), Ahmedabad.
Conclusion- Held that the assessee trust has chosen to file the present appeal with a delay of 1350 days which in our considered opinion is not a “reasonable cause” to condone the delay. More particularly when the assessee has promptly participated in the assessment proceedings before the Assessing Officer during Covid-19 pandemic period is well aware of denial of registration u/s. 12AB, will not entitle it to claim the benefit of exemption u/s. 11 of the Act. Thus the Assessee trust which claims its income as exempt ought to have be vigilant in making its claim within statutory time limits as prescribed under the Act. Therefore the reasons stated in the above affidavit is not a “reasonable cause” and therefore the same is rejected.
