Form 10B Filed Before Due Date: ITAT Allows Section 11 Exemption

Utkarsh Vs ITO (ITAT Delhi) Assessee trust filed ROI on 25.07.2018 & uploaded Form 10B on 31.07.2018, which was still before the statutory due date 30.09.2018. CPC denied exemption u/s 11 on the technical ground that Form 10B was not filed “with” the return, & CIT(A) upheld the adjustment. Tribunal noted that Form 10B was available with AO at the time of processing & consistent judicial view of various High Courts & Tribunals is that exemption cannot be denied when the audit report is furnished before due date. Tribunal therefore allowed exemption u/s 11. On the second issu...