Gross Receipts Cannot Be Taxed if Charitable Expenditure Was Undisputed: ITAT Delhi

ITO Vs Manav Sanskar Shiksha Sanstha (ITAT Delhi) Form 10B Non-Filing Denies Exemption but Does Not Justify Taxing Gross Receipts; ITAT Denies Section 11 Exemption Because Form 10B Was Not Filed, Allows Expense Deduction Summary: The Income Tax Appellate Tribunal (ITAT), Delhi, partly allowed the Revenue’s appeal against the order of the Commissioner of Income Tax (Appeals) concerning a charitable society registered under Section 12AA. The Central Processing Centre (CPC) had denied exemption under Sections 11 and 12 because the assessee failed to file the mandatory audit report in Form 10B...