Exemption Under Sections 11 & 12 Cannot Be Denied for Procedural Delay in Form 10B: ITAT Hyderabad

Global University Foundation Vs ITO (Exemption) (ITAT Hyderabad)

In Global University Foundation vs. ITO (Exemption), the Income Tax Appellate Tribunal (ITAT) Hyderabad Bench addressed two key issues: (i) condonation of delay in filing the appeal, and (ii) denial of exemption under Sections 11 and 12 of the Income-tax Act, 1961, due to the delayed filing of audit report in Form 10B.

The assessee, a charitable foundation, filed its appeal with a delay of Please become a Premium member. If you are already a Premium member, login here to access the full content.