https://www.taxtmi.com/caselaws?id=779557 ITAT PUNE - AT upheld the CIT(A)'s directions to allow charitable exemption u/s 11, rejecting the AO's procedural denial for late claim and audit report where registration under s.12A existed and tribunal precedent was unchallenged. The tribunal also held the assessee to be a "local authority," treated capital expenditure as application of income, allowed certain prior-period and employee-benefit payments as applications of income, and permitted change in accounting method for accrued interest. Several disputed items (sale loss, tax demands, wharfage timing) were remitted to AO for recomputation or rejected consistent with the findings. en-us Tue, 30 Sep 2025 00:00:00 +0530 Wed, 01 Oct 2025 17:51:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=779557 ITAT PUNE - AT upheld the CIT(A)'s directions to allow charitable exemption u/s 11, rejecting the AO's procedural denial for late claim and audit report where registration under s.12A existed and tribunal precedent was unchallenged. The tribunal also held the assessee to be a "local authority," treated capital expenditure as application of income, allowed certain prior-period and employee-benefit payments as applications of income, and permitted change in accounting method for accrued interest. Several disputed items (sale loss, tax demands, wharfage timing) were remitted to AO for recomputation or rejected consistent with the findings. Case-Laws Income Tax Tue, 30 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=779557