Belated Form 10B Filing: ITAT Deletes Addition Due to CBDT Deadline Extension

St. Anthonys Education Trust Vs ITO (ITAT Mumbai)

In the case of St. Anthonys Education Trust vs. ITO, the Income Tax Appellate Tribunal (ITAT) Mumbai deleted an income addition imposed on the trust for delayed submission of Form 10B, an audit report essential for tax exemption under Section 11 of the Income Tax Act, 1961. The case concerns the assessment year (AY) 2022-23, where the trust initially declared an income of Rs. 12,538 but was later assessed at Rs. 62,56,517 due to the denial of tax exemption based on the deemed late filing of Form 10B. The Centralized Process

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