SC Declines to Entertain delayed Revenue SLIP on Denial of Exemption for Late Form Filing

CIT (Exemption) Vs Anjana Foundation (Supreme Court of India) The matter arose from a dispute regarding denial of tax exemption to a charitable trust due to delay in filing the audit report in Form 10B under the Income Tax Act, 1961. The respondent-assessee is a public charitable trust registered under the Bombay Public Trust Act, 1950. For Assessment Year 2021–22, it filed its return declaring a small surplus/deficit position. However, while processing the return under Section 143(1), the Centralised Processing Centre (CPC) denied exemption under Sections 11 and 12 on the ground that the au...