Denial of exemption u/s. 11 for delay in filing Form 10B not justifiable: ITAT Delhi

Trilok Singh Bhandari Charitable Trust Vs ITO (ITAT Delhi)

ITAT Delhi held that denial of exemption under section 11 of the Income Tax Act for delay in filing of Form 10B is not justifiable since condition of filing Form 10B is directory in nature and not mandatory. Accordingly, appeal allowed and exemption granted.

Facts- Assessee has preferred the present appeal mainly contesting denial of exemption under section 11 of the Income Tax Act since audit report in Form 10B was not filed along with or before filing of return of income.

Conclusion-

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