Delay in filing Form 10B could not be a ground to deny exemption u/s 11 & 12 when report was available before CPC order

Seva Bharathi Vs CIT (Exemptions) (ITAT Hyderabad) Conclusion: Since the Form 10B was filed along with the return of income and within the due date of filing the return of income, the delay in filing the Form 10B could not be a ground for denial of the exemptions under Sections 11 and 12. Held: Assessee, a charitable trust registered under section 12A, filed its return of income for A.Y. 2022-23 along with Form 10B, though beyond the CBDT-extended due date of 07.10.2022. CPC, Bengaluru, processed the return under section 143(1) and denied exemption under sections 11 and 12 due to the delayed f...