Delayed Form 10B is Curable Procedural Lapse: ITAT Ahmedabad

Kanchanba Education Trust vs ACIT (Exemption) (ITAT Ahmedabad) Delayed Form 10B is curable procedural lapse; ITAT Ahmedabad restores Sec 11 & 12 exemption Ahmedabad   Tribunal allowed Assessee’s appeal & set aside order of CIT(A) upholding denial of exemption u/s 11 & 12 merely for belated filing of Form 10B. Tribunal held that Trust was duly registered u/s 12A, accounts were audited, return was filed within extended due date & income was applied for charitable purposes. Filing of Form 10BB instead of Form 10B was a bona fide mistake, which was later rectified by filing For...