https://www.taxtmi.com/caselaws?id=446956 The Tribunal directed the AO to grant the exemption under section 11 of the Income Tax Act to the assessee trust after verifying the Audit Report in Form No. 10B, which was filed before the processing of the return. The denial of exemption was deemed unjustified as it relied on technicalities. The Tribunal also addressed the rectification under section 154, finding that the CPC had not considered the application, and instructed the AO to allow the exemption after verification. The Tribunal's decision was influenced by relevant CBDT circulars and case law precedents. The appeal was allowed for statistical purposes. en-us Wed, 13 Dec 2023 00:00:00 +0530 Fri, 15 Dec 2023 10:54:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=446956 The Tribunal directed the AO to grant the exemption under section 11 of the Income Tax Act to the assessee trust after verifying the Audit Report in Form No. 10B, which was filed before the processing of the return. The denial of exemption was deemed unjustified as it relied on technicalities. The Tribunal also addressed the rectification under section 154, finding that the CPC had not considered the application, and instructed the AO to allow the exemption after verification. The Tribunal's decision was influenced by relevant CBDT circulars and case law precedents. The appeal was allowed for statistical purposes. Case-Laws Income Tax Wed, 13 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=446956