Delhi HC Condones Delay for Charitable Trust’s Income Tax Exemption

Kotak Family Foundation Vs CIT (Exemption) & Others (Bombay High Court) In a significant ruling for charitable organizations, the Delhi High Court has quashed an order by the Commissioner of Income Tax (Exemption), Mumbai, which had denied the Kotak Family Foundation its tax exemption for the Assessment Year 2021-22 due to a delay in e-verifying an audit report. The court emphasized a “justice-oriented approach,” holding that genuine hardship caused by a technical lapse, especially during the Covid-19 pandemic, warranted condonation of delay. The case, Kotak Family Foundation V...