Case Law Details
JCIT Vs Gujarat Energy Development Agency (ITAT Ahmedabad)
Introduction: The case of JCIT vs Gujarat Energy Development Agency, as adjudicated by ITAT Ahmedabad, presents a profound perspective on the implications of non-filing an audit report in Form 10B with the income tax return (ITR). The focal point revolves around whether the deduction under Section 11 can be denied solely based on this.
Background of the Case: The Revenue contested against an order passed by the ld. Commissioner of Income-Tax(A), highlighting that the assessee-trust did not file the audit report in Form 10B along with their return of income. Despite this, the ld. CIT(A) concluded that since the audit report was presented during the assessment proceedings, it constituted adequate compliance, thus allowing the assessee to claim benefit under sections 11 and 12 of the Income Tax Act.
Key Points Raised by Revenue:
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