ITAT allows relief where Form 10B uploaded after return filing but before appellate adjudication

Premprakash Ashram Trust Vs ITO (Exemption) (ITAT Surat) Income Tax Appellate Tribunal (ITAT), Surat Bench, has ruled in favor of Premprakash Ashram Trust, a charitable organization, in an appeal against an order by the Commissioner of Income Tax (Appeals) [CIT(A)] for the assessment year 2018-19. The Tribunal’s decision primarily addressed the disallowance of exemption claimed under Section 11 of the Income Tax Act, 1961, which was denied by the Central Processing Centre (CPC), Bengaluru, due to the belated filing of the audit report in Form 10B. The ITAT overturned the lower authoritie...