https://www.taxtmi.com/caselaws?id=759028 The ITAT Chennai-AT allowed the appeal filed by a trust seeking exemption under Section 11. The trust's return was filed beyond the time limit prescribed under Section 139(1), but within the extended period allowed under Section 139(4). The tribunal held that CBDT's clarification dated 23.04.2019 enlarged the scope of Section 139 to include all its provisions, including Section 139(4). A belated return filed under Section 139(4) before the end of the relevant financial year or completion of assessment qualifies as a valid return of income, entitling the trust to exemption benefits under Section 11. en-us Fri, 30 Aug 2024 00:00:00 +0530 Mon, 23 Sep 2024 09:10:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=759028 The ITAT Chennai-AT allowed the appeal filed by a trust seeking exemption under Section 11. The trust's return was filed beyond the time limit prescribed under Section 139(1), but within the extended period allowed under Section 139(4). The tribunal held that CBDT's clarification dated 23.04.2019 enlarged the scope of Section 139 to include all its provisions, including Section 139(4). A belated return filed under Section 139(4) before the end of the relevant financial year or completion of assessment qualifies as a valid return of income, entitling the trust to exemption benefits under Section 11. Case-Laws Income Tax Fri, 30 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=759028