https://www.taxtmi.com/caselaws?id=776643 The ITAT Chennai allowed the assessee exemption under section 10(23C)(v) despite the delay in filing the audit report under section 139(1), holding the deadline as not mandatory in this context. The tribunal recognized that offerings collected by a religious institution do not constitute taxable income and rejected the Revenue's objection regarding electronic filing of the audit report. Given the assessee's status as a government-controlled entity with accounts approved by the State Assembly, the tribunal dispensed with technical breaches and directed deletion of the reassessed income computations. The exemption under section 10(23C)(v) was granted in full, ruling in favor of the assessee. en-us Wed, 30 Jul 2025 00:00:00 +0530 Thu, 14 Aug 2025 08:26:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=776643 The ITAT Chennai allowed the assessee exemption under section 10(23C)(v) despite the delay in filing the audit report under section 139(1), holding the deadline as not mandatory in this context. The tribunal recognized that offerings collected by a religious institution do not constitute taxable income and rejected the Revenue's objection regarding electronic filing of the audit report. Given the assessee's status as a government-controlled entity with accounts approved by the State Assembly, the tribunal dispensed with technical breaches and directed deletion of the reassessed income computations. The exemption under section 10(23C)(v) was granted in full, ruling in favor of the assessee. Case-Laws Income Tax Wed, 30 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=776643