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Exemption u/s 11 was not claimed in original return due to auditor's mistake in Form No. 10B. Assessee rectified mistake by filing revised Form No. 10B. Statutory claim of exemption u/s 11(1)(a) amounting to Rs. 43,98,666/- cannot be denied. Exemption u/s 11(1)(a) already claimed in original return, only mistake in mentioning amount of second part of exemption. Appellate authorities can allow legal claim if not allowed by AO. ITAT directed AO to allow assessee's claim of exemption of Rs. 43,98,655/- under second part of section 11(1)(a) after verifying revised Form 10B filed by assessee. Assessee's appeal allowed.
Exemption u/s 11 was not claimed in original return due to auditor's mistake in Form No. 10B. Assessee rectified mistake by filing revised Form No. 10B. Statutory claim of exemption u/s 11(1)(a) amounting to Rs. 43,98,666/- cannot be denied. Exemption u/s 11(1)(a) already claimed in original return, only mistake in mentioning amount of second part of exemption. Appellate authorities can allow legal claim if not allowed by AO. ITAT directed AO to allow assessee's claim of exemption of Rs. 43,98,655/- under second part of section 11(1)(a) after verifying revised Form 10B filed by assessee. Assessee's appeal allowed.
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