Failure to attach audited accounts with Form 10B: ITAT Allows Exemption Claim

Savitri Bai Jhawar Sewa Nyas Vs ITO (Exemption) (ITAT Indore) In the case of Savitri Bai Jhawar Sewa Nyas Vs ITO (Exemption), the assessee, a charitable trust registered under section 12A, filed its return for AY 2020–21 declaring income of Rs. 20,080 after claiming exemption under sections 11/12. The return was processed under section 143(1), denying exemption and assessing income at Rs. 27,42,960 on the ground that the audit report in Form 10B was filed without audited accounts. The assessee’s rectification application under section 154 was rejected by the Assessing Officer (AO), who hel...