Case Law Details
Conference of Religious India Vs Ward Exemption (ITAT Delhi)
ITAT Delhi held that benefit of exemption u/s. 11 of the Income Tax Act duly available as the income tax return was filed within the specified time limit of sub-section 139 of the Income Tax Act.
Facts-
The assessee is a charitable institution registered u/s. 12A of the Income Tax Act,1961 and is claiming exemption u/s. 11 of the Act. The assessee filed its return of income for the year under consideration on 23.02.2021 claiming by benefits u/s 11 of the Act. The return was accompanied by the audit report in form No.10B. Form No.10 was also filed before the due date of filing of return of income showing an accumulation of income of Rs.34 lacs.
The return was processed u/s. 143 (1) of the Act but the benefit of section 11 was not allowed and gross receipts of Rs.8559512/- have been taxed.
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