CPC Cannot Deny Section 11 Exemption for Delayed Form 10B in Section 143(1) Processing: ITAT Kolkata

Srimanta Sankaradeva Kalakshetra Vs Ward-2(3) (ITAT Kolkata) The Income Tax Appellate Tribunal (ITAT), Kolkata, partly allowed the assessee’s appeal for statistical purposes and remanded the matter to the first appellate authority after examining the denial of exemption under Sections 11 and 12 of the Income-tax Act for Assessment Year 2020-21. The assessee had filed its return of income on 19.05.2021. The return was initially processed and later rectified under Section 154. The Assessing Officer denied exemption under Section 11 on the ground that the audit report in Form No. 10B had be...