https://www.taxtmi.com/caselaws?id=764262 The ITAT Delhi held that a charitable institution with 12A registration lost its tax exemption benefits under section 11 for failing to file income tax returns despite receiving notice under section 148. The assessee claimed exemption under section 10(23AA) and argued that over 85% of income was spent on charitable purposes. However, the tribunal ruled that filing returns under section 139 is mandatory to claim exemption benefits, even for registered charitable institutions. The case was remanded to the AO for fresh assessment on commercial terms, directing proper consideration of documents and opportunity for hearing. The Revenue's appeal was allowed for statistical purposes. en-us Wed, 11 Dec 2024 00:00:00 +0530 Tue, 07 Jan 2025 07:56:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764262 The ITAT Delhi held that a charitable institution with 12A registration lost its tax exemption benefits under section 11 for failing to file income tax returns despite receiving notice under section 148. The assessee claimed exemption under section 10(23AA) and argued that over 85% of income was spent on charitable purposes. However, the tribunal ruled that filing returns under section 139 is mandatory to claim exemption benefits, even for registered charitable institutions. The case was remanded to the AO for fresh assessment on commercial terms, directing proper consideration of documents and opportunity for hearing. The Revenue's appeal was allowed for statistical purposes. Case-Laws Income Tax Wed, 11 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764262