https://www.taxtmi.com/caselaws?id=772705 ITAT Ahmedabad allowed the assessee trust's appeal, condoning the 63-day delay in filing Form 10B despite timely audit completion. The AO had denied exemption under sections 11 and 12, treating entire income as taxable including corpus donations. The Tribunal held that exemption cannot be denied solely due to delayed e-filing when audit was completed before assessment finalization. Following coordinate bench precedents and CBDT Circular 2/2020, the Tribunal set aside CIT(A)'s order, directed the AO to grant exemption, treat corpus donations as capital receipts, and allow 15% statutory deduction under section 11(1)(a). en-us Tue, 10 Jun 2025 00:00:00 +0530 Sat, 11 Apr 2026 10:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772705 ITAT Ahmedabad allowed the assessee trust's appeal, condoning the 63-day delay in filing Form 10B despite timely audit completion. The AO had denied exemption under sections 11 and 12, treating entire income as taxable including corpus donations. The Tribunal held that exemption cannot be denied solely due to delayed e-filing when audit was completed before assessment finalization. Following coordinate bench precedents and CBDT Circular 2/2020, the Tribunal set aside CIT(A)'s order, directed the AO to grant exemption, treat corpus donations as capital receipts, and allow 15% statutory deduction under section 11(1)(a). Case-Laws Income Tax Tue, 10 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772705