Chandraprabhuji Maharaj Jain v. Dy. CIT

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The Tax Publishers2019 TaxPub(DT) 5222 (Mad-HC) : (2020) 313 CTR 0232 : (2019) 266 TAXMAN 0399

INCOME TAX ACT, 1961

Section 11

When there was no assessment under section 143(3) and the fact that assessee had separately filed Form No. 10 along with Board Resolution, then AO should have considered the same before making disallowance towards accumulation of income under section 11(2).

Charitable trust - Disallowance of accumulation of income under section 11(2) - Non-filing of audit report in Form 10CCB -

Assessee was aggrieved by disallowance of accumulation of income under section 11(2) on account of non-filing of audit report in Form 10CCB. Case of assessee was that aforesaid Form should have been accepted when assessment proceedings were pending. Held: When there was no assessment under section 143(3) and the fact that assessee had separately filed Form No. 10 along with Board Resolution, along with covering letter, it was a fit case where AO should be directed to take note of Form No. 10 accompanied by Board Resolution and take a decision on merits. Thus competent revenue authority was directed to take note of Form No. 10 and Board Resolution and take a decision on merits and in accordance with law.

Relied:CIT v. Nagpur Hotel Owners Association (2001) 247 ITR 201 (SC) : 2001 TaxPub(DT) 943 (SC) Collector, Land Acquisition v. Mst. Katiji & Ors. (1987) 167 ITR 471 (SC) : 1987 TaxPub(DT) 1279 (SC) The CIT-III, Pune v. Sakal Relief Fund in (Income Tax Appeal No. 1822 of 2014, Income Tax Appeal No. 63 of 2015, dt. 3-4-2017) : 2017 TaxPub(DT) 1327 (Bom-HC) CIT-II v. Akshar Enterprises (2017) 396 ITR 317 (Guj) : 2017 TaxPub(DT) 2090 (Guj-HC) CIT-I, Chennai. v. M/s. AKS Alloys(P) Ltd., in (I.T.A. No. 495 of 2011, dt. 14-12-2011) : 2016 TaxPub(DT) 4805 (Mad-HC) CIT, Delhi (Central)-I v. Contimeters Electricals (P) Ltd. (2009) 317 ITR 249 (Delhi) : 2009 TaxPub(DT) 1128 (Del-HC) CIT v. Mahalakshmi Rice Factory (2007) 294 ITR 631 (P&H) : 2007 TaxPub(DT) 293 (P&H-HC) CIT v. Berger Paints (India) Ltd. (No. 2). (2002) 254 ITR 503 (Cal) : 2002 TaxPub(DT) 1198 (Cal-HC) CIT v. Jayant Patel (2001) 248 ITR 199 (Mad) : 2001 TaxPub(DT) 101 (Mad-HC) Zenith Processing Mills v. CIT (1996) 219 ITR 721 (Guj) : 1996 TaxPub(DT) 514 (Guj-HC) CIT v. AN Arunachalam (1994) 208 ITR 481 (Mad) : 1994 TaxPub(DT) 973 (Mad-HC) CIT v. Shivanand Electronics (1994) 209 ITR 63 (Bom) : 1994 TaxPub(DT) 582 (Bom-HC) Shri Chandraprabhuji Maharaj Jain Juna Mandir Trust v. The Dy. CIT, (Exemption)-II, Chennai in (I.T.A. No. 2379/Mds/2016 Assessment Year: 2008-09, dt. 13-2-2017) and CIT v. G.M. Knitting Industries (P) Ltd. & Aks Alloys (P) Ltd. (2015) 376 ITR 456 (SC) : 2015 TaxPub(DT) 3423 (SC)

REFERRED :

FAVOUR : In assessee's favour

A.Y. :

IN THE MADRAS HIGH COURT