https://www.taxtmi.com/caselaws?id=459056 The ITAT Bangalore partially allowed the appeal, setting aside the NFAC's order that disallowed deductions under sections 11 and 12 of the Income Tax Act due to the incorrect filing of the audit report in form 10BB instead of the required form 10B. The ITAT recognized the appellant's subsequent correction and found the NFAC's reliance on a now-reversed judicial precedent invalid. The case was remanded to the Assessing Officer to verify the corrected form 10B and to allow the exemptions as per law. The ITAT also addressed the incorrect dismissal by the CIT(A) and clarified that certain general grounds did not require specific adjudication. en-us Tue, 16 Apr 2024 00:00:00 +0530 Wed, 27 Nov 2024 18:34:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459056 The ITAT Bangalore partially allowed the appeal, setting aside the NFAC's order that disallowed deductions under sections 11 and 12 of the Income Tax Act due to the incorrect filing of the audit report in form 10BB instead of the required form 10B. The ITAT recognized the appellant's subsequent correction and found the NFAC's reliance on a now-reversed judicial precedent invalid. The case was remanded to the Assessing Officer to verify the corrected form 10B and to allow the exemptions as per law. The ITAT also addressed the incorrect dismissal by the CIT(A) and clarified that certain general grounds did not require specific adjudication. Case-Laws Income Tax Tue, 16 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459056