Delayed Form 10B Filing Not Ground to Deny Section 11/12 Exemption: ITAT Surat

SUD Education Trust Vs DCIT (CPC) (ITAT Surat) The ITAT Surat considered an appeal filed by a charitable and religious trust registered under Section 12AB of the Income-tax Act against the order of the Commissioner of Income-tax (Appeals), arising from an intimation issued under Section 143(1) for Assessment Year 2022-23. The dispute concerned whether exemption under Sections 11 and 12 could be denied solely on the ground that the audit report in Form No. 10B was filed after the prescribed due date but before processing of the return under Section 143(1). The assessee filed its return of incom...