Assessee-trust had filed e-return of income on 9-2-2019 along with Form No. 10B declaring total income at nil after claiming exemption under section 11. Assessing Officer disallowed assessee\u2019s claim on ground that return of income was filed beyond time limit prescribed under section 139(1).CIT(A) confirmed the action of the\u00a0 AO. On appeal the Tribunal held that\u00a0 provision of section 139(4) with effect from 1-4-2017 lays down that any person who has not furnished return of income within time allowed under section 139(1), may furnish return for any previous year at any time before end of relevant financial year or before completion of assessment whichever is earlier.Since relevant\u00a0 assessment year ends on 31-3-2019, return filed by assessee on 9-2-2019 was within provision of section 139(4). The\u00a0\u00a0 Assessing Officer is\u00a0 directed to allow claim of exemption under section 11.\u00a0 (AY. 2018-19)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 11 : Property held for charitable purposes-Return was filed within time allowed under section 139(4)-Assessing Officer is directed to allow assessee’s claim of exemption. [S.12A, 139(1), 139(4), Form No.10B] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-51108","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-dik","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/51108","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=51108"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/51108\/revisions"}],"predecessor-version":[{"id":51109,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/51108\/revisions\/51109"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=51108"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=51108"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=51108"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}