Vikat Educational Trust, Lucknow V. Income Tax Officer (Exemption), Lucknow

ITA 198/LKW/2018

• Counselvise Citation: [2019] 116 COUNSELVISE.COM (IT) 7877 (ITAT-LUCKNOW)
• Duration Of Justice: 1 year(s) 4 month(s) 7 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 19-07-2019
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2016-2017
• Appeal Filed On: 12-03-2018
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: C. K. SINGH
• Assessee Lawyers: SHYAM LAL
• Keywords: Reasonable cause; Condonation of delay

Judgement Text

I.T.A. NO.198/LKW/2018 ASSESSMENT YEAR:2016-17 1 IN THE INCOME TAX APPELLATE TRIBUNAL LUCKNOW BENCH B, LUCKNOW BEFORE SHRI A. D. JAIN, VICE PRESIDENT AND SHRI T. S. KAPOOR, ACCOUNTANT MEMBER ITA NO.198/LKW/2018 ASSESSMENT YEAR:2016-17 VIKRANT EDUCATIONAL TRUST, 32A, CHANDRA LOK, ALIGANJ, LUCKNOW. PAN:AABTV 6124 D VS. INCOME TAX OFFICER (EXEMPTIONS), LUCKNOW. (APPELLANT) (RESPONDENT) O R D E R PER T. S. KAPOOR, A.M. THIS IS AN APPEAL FILED BY THE ASSESSEE AGAINST TH E ORDER OF LEARNED CIT(A)-4, LUCKNOW DATED 10/01/2018 PERTAINING TO AS SESSMENT YEAR 2016- 2017. 2. IN THIS APPEAL THE ASSESSEE HAS TAKEN VARIOUS GR OUNDS OF APPEAL HOWEVER, THE CRUX OF THE GROUNDS OF APPEAL IS THE A CTION OF LEARNED CIT(A) BY WHICH HE HAS UPHELD THE ACTION OF THE ASSESSING OFFICER IN NOT ALLOWING BENEFIT OF ACCUMULATION U/S 11(2) OF THE ACT. 3. AT THE OUTSET, LEARNED A. R. SUBMITTED THAT THE AUTHORITIES BELOW HAVE NOT GIVEN BENEFIT OF ACCUMULATION U/S 11(2) OF THE ACT AS THERE WAS A DELAY IN FILING FORM -10. IT WAS SUBMITTED THAT CBDT HAD ISSUED A CIRCULAR IN DECEMBER, 2018 WHEREIN IT HAD ALLOWED THE BENEFIT O F ACCUMULATION U/S APPELLANT BY SHRI SHYAM LAL, F.C.A. RESPONDENT BY S HRI C. K. SINGH, D.R. DATE OF HEARING 16/07/2019 DATE OF PRONOUNCEMENT 19 / 07 /201 9 I.T.A. NO.198/LKW/2018 ASSESSMENT YEAR:2016-17 2 11(2) IF THERE WAS REASONABLE CAUSE FOR DELAY IN FI LING ITR AND FORM 10 AND THE AMOUNT TO BE ACCUMULATED WAS INVESTED IN AC CORDANCE WITH THE PROVISIONS OF SECTION 11(5) OF THE ACT. IT WAS SUBM ITTED THAT LEARNED CIT (EXEMPTIONS), IN VIEW OF THESE INSTRUCTIONS, HAS AL READY ALLOWED THE BENEFIT OF ACCUMULATION U/S 11(2) OF THE ACT AND THEREFORE, THERE WAS NO GRIEVANCE LEFT TO THE ASSESSEE. 4. LEARNED D. R. HOWEVER, SUPPORTED THE ORDERS OF T HE AUTHORITIES BELOW. 5. WE HAVE HEARD THE RIVAL PARTIES AND HAVE GONE TH ROUGH THE MATERIAL PLACED ON RECORD. WE FIND THAT ORIGINALLY THE ASSE SSEE WAS DENIED BENEFIT OF ACCUMULATION U/S 11(2) HOWEVER, LATER ON WAS ALLOWE D BY THE CIT (EXEMPTIONS) IN VIEW OF THE CBDT INSTRUCTIONS REGAR DING CONDONATION OF DELAY IN FILING FORM 10. THEREFORE, IN VIEW OF THE SUBMISSIONS OF LEARNED A. R., THE APPEAL FILED BY THE ASSESSEE HAS BECOME INF RUCTUOUS AS THE ASSESSEE HAS ALREADY BEEN GRANTED THE BENEFIT OF ACCUMULATIO N BY LEARNED CIT (EXEMPTIONS) AND THEREFORE, IN VIEW OF THE ABOVE, T HE APPEAL FILED BY THE ASSESSEE IS DISMISSED AS INFRUCTUOUS. 6. IN THE RESULT, THE APPEAL OF THE ASSESSEE STANDS DISMISSED. (ORDER PRONOUNCED IN THE OPEN COURT ON 19/07/2019) SD/. SD/. ( A. D. JAIN ) ( T. S. KAPOOR ) VICE PRESIDENT ACCOUNTANT MEMBER DATED:19/07/2019 *SINGH COPY OF THE ORDER FORWARDED TO : 1. THE APPELLANT 2. THE RESPONDENT. 3. CONCERNED CIT 4. THE CIT(A) 5. D.R., I.T.A.T., LUCKNOW ASSISTANT REGISTRAR