Gross Receipts Cannot Be Taxed if Charitable Expenditure Was Undisputed: ITAT Delhi

Advertisement ITO Vs Manav Sanskar Shiksha Sanstha (ITAT Delhi) Form 10B Non-Filing Denies Exemption but Does Not Justify Taxing Gross Receipts; ITAT Denies Section 11 Exemption Because Form 10B Was Not Filed, Allows Expense Deduction Summary: The Income Tax Appellate Tribunal (ITAT), Delhi, partly allowed the Revenue’s appeal against the order of the Commissioner of Income Tax (Appeals) concerning a charitable society registered under Section 12AA. The Central Processing Centre (CPC) had denied exemption under Sections 11 and 12 because the assessee failed to file the mandatory audit r...