https://www.taxtmi.com/caselaws?id=758035 ITAT allowed the appeal, holding the assesseee entitled to exemption under s.11/12 for the year in question and remanding the matter to the AO for fresh assessment after considering the Form 10B audit report. The Tribunal found the claim could not be denied merely because registration under s.12AA/12A was granted after the original return and the window for revision had lapsed; delay in filing Form 10B was held directory and not a valid ground for denial, and the monetary-limit objection under Rule 2BC was addressed against the original claim. en-us Tue, 20 Aug 2024 00:00:00 +0530 Mon, 06 Oct 2025 11:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=758035 ITAT allowed the appeal, holding the assesseee entitled to exemption under s.11/12 for the year in question and remanding the matter to the AO for fresh assessment after considering the Form 10B audit report. The Tribunal found the claim could not be denied merely because registration under s.12AA/12A was granted after the original return and the window for revision had lapsed; delay in filing Form 10B was held directory and not a valid ground for denial, and the monetary-limit objection under Rule 2BC was addressed against the original claim. Case-Laws Income Tax Tue, 20 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=758035