Belated Return Not Fatal for Section 11 Exemption Prior to AY 2018-19: ITAT Cochin

All India Spices Exporters Forum Vs ITO (ITAT Cochin)

Cochin ITAT: Belated Return Filing Not Fatal for 11 Exemption Prior to AY 2018-19- Finance Act 2017 Amendment Prospective – Tribunal Grants Assessee Fresh Hearing

Assessee, a public charitable trust registered u/s 12A, filed return on 31.03.2015 declaring Nil income after claiming exemption u/s 11. Return was processed u/s 143(1) vide intimation dated 16.03.2016 wherein exemption was denied on the grounds that (a) audit report in Form 10B was filed beyond due date prescribed u/s 139(1), (b) investments were not made in

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