Late Filing of Form 10B/10BB Not Fatal: ITAT Kolkata Grants Trust Exemption

Saraswati Devi Educational And Social Trust Vs CPC (ITAT Kolkata) Delay in Filing Form 10B/10BB Held Technical, Not Fatal to Claim u/s 11/10(23C)- ITAT Kolkata Allows Exemption to Trust Assessee, a registered charitable trust, filed appeals against orders of CIT(A) for A.Ys. 2020-21 & 2023-24, challenging denial of exemption u/s 11/10(23C) while processing returns u/s 143(1). CPC had disallowed exemption on the ground that the audit reports in Form 10B & 10BB were filed belatedly, i.e., after the due date prescribed u/s 139(1). Assessee contended that CPC made adjustments u/s 143(1)(a)...