https://www.taxtmi.com/caselaws?id=771281 ITAT Jaipur allowed the appeal of a charitable trust claiming exemption under section 11. The trust had filed an audit report establishing its status and had previously received section 12A benefits. Despite a bonafide error in the ITR, the tribunal held that otherwise allowable deductions cannot be denied. Following the Krishi Upaj Mandi Samiti precedent, the tribunal ruled that a charitable trust spending accumulated funds in excess of income for charitable purposes cannot be denied section 11(1)(a) exemption. The AO was directed to grant the claimed benefit to the registered trust. en-us Tue, 29 Apr 2025 00:00:00 +0530 Fri, 23 May 2025 08:46:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771281 ITAT Jaipur allowed the appeal of a charitable trust claiming exemption under section 11. The trust had filed an audit report establishing its status and had previously received section 12A benefits. Despite a bonafide error in the ITR, the tribunal held that otherwise allowable deductions cannot be denied. Following the Krishi Upaj Mandi Samiti precedent, the tribunal ruled that a charitable trust spending accumulated funds in excess of income for charitable purposes cannot be denied section 11(1)(a) exemption. The AO was directed to grant the claimed benefit to the registered trust. Case-Laws Income Tax Tue, 29 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771281