Delay in Form 10B Filing Cannot Alone Justify Denial of Charitable Exemption: ITAT Hyderabad

Ravi Rishi Educational Society Vs DCIT (ITAT Hyderabad) The Income Tax Appellate Tribunal (ITAT), Hyderabad, decided four appeals filed by the assessee, an educational society registered as a charitable institution under Section 12AA. The appeals related to denial of exemption under Sections 11 and 12 for Assessment Years (AYs) 2019–20 and 2020–21, an order under Section 154 for AY 2020–21, and penalty under Section 271D for AY 2017–18. For AYs 2019–20 and 2020–21, the assessee filed returns declaring nil income after claiming exemption. The returns were processed under Section 143...