Delhi Maharashtriya Educational And Cultural Society Vs CIT (Exemptions) (Delhi High Court)
Delhi High Court held that non-granting of exemption claimed under section 11 and 12 of the Income Tax Act due to delay of 16 days in filing audited report in From 10B not justified since the due to inadvertence error on the part of the auditor / tax professional.
Facts- The petitioner being a Charitable and Religious Trust is taxable in accordance with the provisions of Section 11 to Section 13 of the Act. Notably, on 30.09.2018, the audited financial for the AY 2018-19 along with the schedules were prepared by its chartered accountant along with a balance sheet as of 31.03.2018. On 31.10.2018, the petitioner filed its return of income u/s. 139(4)(a) of the Act for AY 2018-19 by declaring NIL income after claiming exemptions u/s. 11 and 12 of the Act. The return was filed within the period of extended limitation of filing returns for AY 2018-19 vide an operation of Circular F No. 255/358/2018/ITA.II dated 24.09.2018 & Circular No. F No.255/358/2018/ITA.II dated 08.10.2018 of the order u/s. 119 of the Act. The return also disclosed the details of audited report dated 30.09.2018. However, the audit report could not be uploaded due to inadvertence error on the part of the auditor / tax professional.
