ITAT Cuttack Condones One-Day Delay in Filing Form 10B for Educational Trust

Naba Utkal Trust Vs ITO (ITAT Cuttack) The Income Tax Appellate Tribunal (ITAT), Cuttack bench, has condoned a one-day delay in the filing of Form 10B by the Naba Utkal Trust and directed the tax authorities to allow its claim for deductions. The case highlights a procedural conflict between the assessee’s compliance and the rigid application of tax rules by the Assessing Officer and the Commissioner of Income Tax (Appeals). The Naba Utkal Trust, a charitable organization running an ITI College, filed its income tax return for the assessment year 2021-22. The return declared a gross tota...