Exemption u/s. 11 cannot be denied for bonafide error in ITR: ITAT Jaipur

Seth RB Moondhra Memorial Charitable Trust Vs CIT Exemption -1 (ITAT Jaipur) ITAT Jaipur held that disallowance of exemption under section 11 of the Income Tax Act on the basis of bonafide error in ITR is not justified. Accordingly, appeal allowed and benefit granted. Facts- The assessee appellant the AOCPC while processing the ITR of the assessee, has not allowed 15 % of the receipt for an amount of Rs. 43,272/- of the impugned intimation in question]. The CPC also while taxing the income charged the tax at Maximum Marginal Rate [ MMR] and has not considered that the assessee is a trust regis...