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3. Aggrieved against the same, the assessee filed an appeal before the NFAC. The assessee submitted that Form 10B has not been filed within due time along with the Return of Income. However, Form 10B was filed belatedly on 15.03.2019. Therefore the assessee cannot be denied the benefit of Section 11 & 12 of the Act. The Ld. NFAC held that the assessee having filed Form 10B belatedly the disallowance of Rs. 48,00,000/- (137628 + 4662372) in the intimation order passed u/s. 143(1) is in order.

3.1. The Ld. CIT(A) held that as per Rule 12(2) of the Income Tax Rules, Form 10B shall be submitted electronically with effect from 01.04.2016 applicable for the Assessment Year 2016-17 onwards.

5. Per contra the ld. D.R. Ms. Sudhiksha Rani appearing for the revenue supported the order passed by the lower authorities and contended that when the assessee failed to file Form 10B along with return of income. The assessee is not eligible for exemption u/s. 11 of the Act as per the amendment in Finance Act, 2015 with effect from 01.04.2016. The case laws relied upon by the assessee counsel are clearly distinguishable since the same were rendered prior to the amendment taken place by Finance Act, 2015, which is now made it mandatory to file Form 10B along with the return of income. Further assessee's reliance on CIT(A) order passed in assessee's own case for the Assessment Year 2017-18 is also not legally valid decision, since CIT(A) has no power to condone the delay in filing Form 10B as per Section 119(2(b) of the Act. Thus the assessee Trust seems to be regularly defaulting in not filing Form 10B along with the Return of Income for the present assessment year also though, the amendment has taken place with effect from 01.04.2016 onwards. In the above circumstances of the case, the dismissal of the appeal by the Ld. CIT(A) is correct in law. The assessee has a proper remedy before the jurisdictional Association of Indian Panelboard Manufacturer Vs. DCIT CPC CIT/PCIT/DIT for condoning the delay in filing Form 10B. Therefore, the appellate order passed by the CIT(A) does not require any interference and the same is passed in accordance with the provisions of the Act and thereby requested to dismiss the appeal filed by the assessee.

6. We have given our thoughtful consideration and perused the material available on record, including the Paper Book filed by the assessee. On filing the original Return of Income by the assessee on 31.08.2018, the assessee was communicated by the Assessing Officer, the assessee has not filed the Audit Report in Form 10B along with the return. It is thereafter the assessee field Form 10B on 15.03.2019 by uploading the same in electronic mode. Thus, the assessee is well aware that there is a delay in filing Form 10B but however assessee seems to have not made any application for condonation of delay in filing Form 10B before concerned PCIT/CIT/DIT as provided u/s. 119(2)(b) of the Act.

section (5) of section 11 of the Act.

6.2. As per the above circular, filing of Form 10B electronically along with the Return of Income has become mandatory because of the amended Sections 11 & 13 of the Act, by the Finance Act, 2015. This being the first year of e-filing of these forms, representations have been received by the Board/field authorities stating that the Form No. 10 could not be filed with in the specified time for the assessment year 2016-17.

6.3. Considering the hardship faced by the assessee, the CBDT issued Circular No. 7/2018, authorizing Commissioner of Income Tax, to admit belated application in Form No. 10 in respect of Assessment Year 2016-17 which were filed belatedly. Thus, the finding of the ld. CIT(A) that, he has no power in condoning the delay in filing Form 10B is legally correct in law. As rightly argued by the Ld. D.R., the assessee seems to be consistently filing the above Form 10B belatedly, for which proper remedy left to the assessee is approaching the Administrative CIT, who is to condone the delay but not with filing appeal u/s. 250 of the Act. We do not find any infirmity in the order passed by the Ld. CIT(A) and it has open to the assessee to avail the appropriate legal remedy in accordance with Income Tax Act. We also further found that the case laws relied upon by the Ld. Senior Counsel will not be Association of Indian Panelboard Manufacturer Vs. DCIT CPC applicable to the present case, since in the case of Mayur Foundation cited (supra) wherein the Assessment year involved is 1980-81 and in the case of Xavier Kelavani Mandal P. Ltd. cited (supra) wherein the Assessment Year involved is 2006-07. In our considered view, filing of Form 10B is being mandatory because of the amendment made in Finance Act, 2015 with effect from 01.04.2016 applicable for the Assessment Year 2016-17. Therefore the above case laws are clearly distinguishable to the facts of the present case. Thus, the grounds raised by the assessee are hereby rejected and the appeal filed by the Assessee is dismissed.