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ITAT allowed the appeal, remanding the case back to the AO for fresh consideration of exemption under Section 11. The tribunal found that although the audit report in Form 10BB was filed belatedly, it was available during return processing. The CIT(A)'s order was set aside, directing the AO to reconsider the exemption claim, recognizing that the technical delay should not automatically invalidate the charitable organization's tax exemption. The appeal was allowed for statistical purposes, effectively providing the assessee an opportunity to substantiate its exemption claim through proper documentation.
ITAT allowed the appeal, remanding the case back to the AO for fresh consideration of exemption under Section 11. The tribunal found that although the audit report in Form 10BB was filed belatedly, it was available during return processing. The CIT(A)'s order was set aside, directing the AO to reconsider the exemption claim, recognizing that the technical delay should not automatically invalidate the charitable organization's tax exemption. The appeal was allowed for statistical purposes, effectively providing the assessee an opportunity to substantiate its exemption claim through proper documentation.
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