ITAT Ahmedabad Allows Section 10(23C)(iiiab) Exemption Despite Wrong ITR Form Filing

Society for Creation of Opportunities Vs ITO (ITAT Ahmedabad) Substance Over Form- Wrong ITR Form Can’t Deny Substantive Exemption -Educational Society Financed by Govt. Entitled to 10(23C)(iiiab) Assessee, SCOPE, an educational society substantially financed by the Government of Gujarat, filed its return of income for AY 2012-13 in Form ITR-5 instead of the prescribed Form ITR-7. In the return filed on 31.03.2013, it declared NIL income after claiming exemption of ₹16.30 crore under section 10(23C)(iiiab). Since the wrong form was used, CPC processed the return u/s 143(1) & treated th...