https://www.taxtmi.com/caselaws?id=764066 ITAT Panaji allowed the appeal of a trust regarding disallowance of exemption under section 11 due to delayed filing of Form 10B. The trust argued delay was genuine as it believed the auditor had filed the form online. ITAT held the trust demonstrated bona fide reasons for delay, noting audit reports were obtained within due dates and the trust only realized the non-filing after receiving intimation under section 143(1). Following precedents, ITAT ruled auditor's error cannot justify denying exemption benefits and remanded the matter to AO with directions to accept the audit reports and assess income after allowing section 11 and 12 exemptions. en-us Tue, 31 Dec 2024 00:00:00 +0530 Thu, 02 Jan 2025 08:14:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764066 ITAT Panaji allowed the appeal of a trust regarding disallowance of exemption under section 11 due to delayed filing of Form 10B. The trust argued delay was genuine as it believed the auditor had filed the form online. ITAT held the trust demonstrated bona fide reasons for delay, noting audit reports were obtained within due dates and the trust only realized the non-filing after receiving intimation under section 143(1). Following precedents, ITAT ruled auditor's error cannot justify denying exemption benefits and remanded the matter to AO with directions to accept the audit reports and assess income after allowing section 11 and 12 exemptions. Case-Laws Income Tax Tue, 31 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764066