https://www.taxtmi.com/caselaws?id=754331 ITAT held that assessee was entitled to exemption u/s 11 despite belated filing of Form 10B. The tribunal ruled that since the return was filed within section 139 time limits, CIT(E) could condone the delay in Form 10B filing. The court emphasized that while Form 10B is substantive, its filing is procedural and delay cannot be fatal to the claim. Since Form 10B was filed before return processing u/s 143(1)(a) and assessment order u/s 143(3), the exemption was allowed. Appeal was allowed and AO was directed to delete the addition. en-us Wed, 19 Jun 2024 00:00:00 +0530 Fri, 21 Jun 2024 08:18:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754331 ITAT held that assessee was entitled to exemption u/s 11 despite belated filing of Form 10B. The tribunal ruled that since the return was filed within section 139 time limits, CIT(E) could condone the delay in Form 10B filing. The court emphasized that while Form 10B is substantive, its filing is procedural and delay cannot be fatal to the claim. Since Form 10B was filed before return processing u/s 143(1)(a) and assessment order u/s 143(3), the exemption was allowed. Appeal was allowed and AO was directed to delete the addition. Case-Laws Income Tax Wed, 19 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754331