https://www.taxtmi.com/caselaws?id=308481 The Tribunal ruled in favor of the religious trust assessee, allowing the exemption claimed under sections 11/12 despite a delay in filing the audit report with the return. Emphasizing the rectifiability of procedural defects and the genuine nature of the trust's activities, the Tribunal remanded the matter for fresh assessment, citing precedent that such delays should not bar legitimate exemptions. The decision highlights the importance of substance over form in tax matters, ensuring fairness and adherence to the spirit of the law for entities like religious trusts seeking statutory benefits. en-us Fri, 21 Apr 2023 00:00:00 +0530 Thu, 29 Jun 2023 08:28:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=308481 The Tribunal ruled in favor of the religious trust assessee, allowing the exemption claimed under sections 11/12 despite a delay in filing the audit report with the return. Emphasizing the rectifiability of procedural defects and the genuine nature of the trust's activities, the Tribunal remanded the matter for fresh assessment, citing precedent that such delays should not bar legitimate exemptions. The decision highlights the importance of substance over form in tax matters, ensuring fairness and adherence to the spirit of the law for entities like religious trusts seeking statutory benefits. Case-Laws Income Tax Fri, 21 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=308481