Belated Form 10B Is a Curable Procedural Defect: ITAT Ahmedabad Condones Delay and Restores Sections 11–12 Exemption

Vishva Kalyan Foundation Vs ITO (ITAT Ahmedabad) The Ahmedabad Bench of the ITAT allowed the appeal of a charitable trust for AY 2020-21 and held that exemption under Sections 11 and 12 cannot be denied merely on account of belated filing of audit report in Form 10B, when such report was already available on record at the time of processing the return under Section 143(1). The CPC had denied exemption and taxed gross receipts of ₹82.96 lakh solely due to delay in e-filing Form 10B, and the CIT(A) dismissed the appeal in limine by refusing to condone a substantial delay in filing the first ap...