TMI BlogExemption u/s 11 - benefit denied on delay in filling the audit report - The Appellate Tribunal...Exemption u/s 11 - benefit denied on delay in filling the audit report - The Appellate Tribunal acknowledged the delay in filing Form 10B but noted that the issue of denial of exemption solely on the grounds of this delay has been addressed in various judicial precedents. It cited the Gujarat High Court's decision in Sarvodaya Charitable Trust vs. ITO(E) and similar rulings by other benches. These rulings established that if a trust substantially satisfies the conditions for exemption under section 11, denial of exemption solely on the basis of a procedural delay is unjustified. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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