Belated Form 10B Filing Does Not Bar Section 11 Exemption

Parantap Charitable Trust Vs ITO (ITAT Ahmedabad) Belated Form 10B Cannot Defeat Section 11 Exemption: ITAT Ahmedabad Condones 368-Day Delay and Grants Relief The Ahmedabad SMC Bench of the ITAT allowed the assessee-trust’s appeal for AY 2017-18, holding that exemption under section 11 cannot be denied merely due to belated filing of Form 10B, when the audit report was available before the tax authorities during rectification proceedings. The Tribunal condoned a delay of 368 days in filing the appeal, accepting the assessee’s explanation that it was under a bona fide and reasonable belief ...