THE EXEMPTION UNDER SECTION 11 OF THE INCOME TAX ACT, 1961 IS NOT TO BE DENIED FOR THE DELAY IN UPLOADING FORM 10B

THE EXEMPTION UNDER SECTION 11 OF THE INCOME TAX ACT, 1961 IS NOT TO BE DENIED FOR THE DELAY IN UPLOADING FORM 10B https://www.taxtmi.com/article/detailed?id=14498 Failure to timely upload the audit report in Form 10B did not justify denial of the charitable exemption under Section 11 where the delay was nominal and procedural, the audit report had been prepared and uploaded before return filing, and the trust's substantive eligibility was undisputed. The tribunal held the filing requirement directory, open to substantial compliance or condonation, set aside the demand, and directed authorities to allow the exemption claim. en-us Mon, 26 May 2025 09:51:25 +0530 Mon, 26 May 2025 09:51:25 +0530 TaxTMI RSS Generator THE EXEMPTION UNDER SECTION 11 OF THE INCOME TAX ACT, 1961 IS NOT TO BE DENIED FOR THE DELAY IN UPLOADING FORM 10B https://www.taxtmi.com/article/detailed?id=14498 Failure to timely upload the audit report in Form 10B did not justify denial of the charitable exemption under Section 11 where the delay was nominal and procedural, the audit report had been prepared and uploaded before return filing, and the trust's substantive eligibility was undisputed. The tribunal held the filing requirement directory, open to substantial compliance or condonation, set aside the demand, and directed authorities to allow the exemption claim. Articles Income Tax Mon, 26 May 2025 09:51:25 +0530 https://www.taxtmi.com/article/detailed?id=14498