https://www.taxtmi.com/caselaws?id=753242 ITAT Ahmedabad allowed appeal of charitable trust registered u/s 12AA. CIT(A) erroneously denied exemption u/s 11 citing late filing of return and form 10B. ITAT held belated return filing deadline was 31.03.2018 (not 31.03.2017) per Finance Act 2016 amendment effective 1.4.2017. Trust's mistake in filling wrong column showing Rs. 40,66,996 as income u/s 12(2) instead of charitable application was rectified based on form 10B evidence. ITAT condoned delay in filing form 10B, following coordinate bench precedent that procedural omissions cannot bar exemption claims. Addition deleted and exemption u/s 11 allowed. en-us Mon, 27 May 2024 00:00:00 +0530 Wed, 29 May 2024 08:31:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=753242 ITAT Ahmedabad allowed appeal of charitable trust registered u/s 12AA. CIT(A) erroneously denied exemption u/s 11 citing late filing of return and form 10B. ITAT held belated return filing deadline was 31.03.2018 (not 31.03.2017) per Finance Act 2016 amendment effective 1.4.2017. Trust's mistake in filling wrong column showing Rs. 40,66,996 as income u/s 12(2) instead of charitable application was rectified based on form 10B evidence. ITAT condoned delay in filing form 10B, following coordinate bench precedent that procedural omissions cannot bar exemption claims. Addition deleted and exemption u/s 11 allowed. Case-Laws Income Tax Mon, 27 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=753242