Form-10 Supplied After Limitation but Before Assessment Completion Eligible for Section 11(2) Exemption Benefit

Maa Bhagwati Shiksha Samiti Vs Commissioner of Income Tax And Two Others (Allahabad High Court) Conclusion: Form-10 under rule 17(2) for claiming exemption had been supplied to AO after the prescribed period but before completion of assessment, it ought to be considered by AO for granting benefit of exemption under Section 11(2) of the Income Tax Act, 1961 in original assessment proceedings. Accordingly, the entire process of reassessment that had been initiated by Department was without any legal basis whatsoever. Held: Assessee-society was carrying out charitable work by imparting education ...