https://www.taxtmi.com/caselaws?id=450366 ITAT Ahmedabad upheld CIT(A)'s decision favoring the assessee trust regarding exemption under sections 11 and 12. AO had denied exemption citing non-filing of Forms 10 and 10B electronically before due date and unclear investment of accumulated funds. CIT(A) allowed the appeal, finding no infirmity in assessment proceedings where assessee furnished all details. ITAT dismissed Revenue's appeal, noting Supreme Court's dismissal in similar AUDA case and coordinate bench decisions. Regarding delayed Form 10 filing, ITAT followed Delhi HC precedent condoning delay as amendments went unnoticed in first assessment year post-amendment. Fixed asset additions were directed to be allowed after verification under section 11(1). en-us Thu, 29 Feb 2024 00:00:00 +0530 Mon, 04 Mar 2024 22:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=450366 ITAT Ahmedabad upheld CIT(A)'s decision favoring the assessee trust regarding exemption under sections 11 and 12. AO had denied exemption citing non-filing of Forms 10 and 10B electronically before due date and unclear investment of accumulated funds. CIT(A) allowed the appeal, finding no infirmity in assessment proceedings where assessee furnished all details. ITAT dismissed Revenue's appeal, noting Supreme Court's dismissal in similar AUDA case and coordinate bench decisions. Regarding delayed Form 10 filing, ITAT followed Delhi HC precedent condoning delay as amendments went unnoticed in first assessment year post-amendment. Fixed asset additions were directed to be allowed after verification under section 11(1). Case-Laws Income Tax Thu, 29 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=450366