Section 11 Exemption Can’t Be Denied for Late Filing of Form 10B Audit Report: ITAT Delhi

Bhagwant Kishore Memorial Educational Society Vs ITO (ITAT Delhi) ITAT Delhi held that not filing of Audit Report in Form 10B alongwith the return of income is a procedural omission only and cannot be impediment in law in claiming the exemption under section 11 of the Income Tax Act. Facts- The assessee / appellant is a charitable society registered under Societies Registration Act, 1860. The solitary grievance raised by the assessee is that the Ld. CIT(A) erred in denying exemption u/s 11 of the Act on the reasoning that there was a delay in filing Form 10B i.e. Audit Report. Conclusion- It i...