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2022 (11) TMI 1370 - ITAT AHMEDABADExemption u/s 11 - Filing of belated Form No.10B - As per revenue necessary statutory conditions were not made and the Trust is not eligible for exemption - HELD THAT:- It is pertinent to note that except filing of belated Form No.10B, all the relevant conditions were fulfilled by the assessee as the Trust is registered under Section 12AA of the Act w.e.f. 26.03.2010. The Tribunal, in the case of Audyogik Shikshan Mandal [2022 (3) TMI 470 - ITAT PUNE] clearly observed that if Form No.10B is available on record, the same should be taken into account and exemption cannot be denied to the assessee under Section 11 of the Act. In the present case also the assessee has fulfilled all the relevant conditions which are required for claiming exemption except filing Form No.10B and Audit Report at the relevant time but the same was filed at a later stage and was available with the CIT(A) as well as before the Assessing officer. Therefore, AO as well as the CIT(A) was not right in making addition and denying the exemption under Section 11 of the Act. Appeal of the assessee allowed.
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