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1 - 6 of 6 (0.17 seconds)Section 11 in The Income Tax Act, 1961 [Entire Act]
Section 12 in The Income Tax Act, 1961 [Entire Act]
The Income Tax Act, 1961
Section 12A in The Income Tax Act, 1961 [Entire Act]
M/S. H M V Educational Cultural & Social ... vs The Income Tax Officer[Exemptions], ... on 23 March, 2023
file Form-10B within the due date as the C.A was handling the case
underwent open heart surgery and could not attend the work. The
CPC in the intimation u/s. 143(1) of the Act has denied the exemption
on the ground that Form-10B was not filed within due date and the
same has been confirmed by Ld Addl. CIT(A). The Ld. AR has
submitted that the CPC has taxed the gross total receipts of
Rs.1,90,83,483/- without allowing the revenue expenditure and taxing
the same as per commercial principle even if exemption of Section 11
and 12 of the Act was denied. The Ld. AR has submitted that the
assessee has subsequently filed a condonation petition before Ld.
CIT(E), which is pending for disposal. The Ld. AR has relied on the
order of ITAT, Bangalore in the case of HMV Educational Cultural &
Social Trust v. ITO in ITA No.9/Bang/2023 and the decision of Hon'ble
Gujarat High Court in the case of Association of Indian Panelboard
Manufacturer in Tax Appeal No.655/2022 (Guj.).
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