Section 10(23C)(iiiac) & 11(2) exemption cannot be denied for Belated Form 10

ACIT (Exemptions) Vs Karnataka Institute of Diabetology (ITAT Bangalore)

The Income Tax Appellate Tribunal (ITAT) Bangalore dismissed appeals filed by the revenue against orders of the CIT(A) concerning exemptions claimed by the Karnataka Institute of Diabetology for assessment years 2017-18 and 2018-19. The core issue was whether the institute was eligible for exemptions under Section 10(23C)(iiiac) and Section 11(2) of the Income Tax Act, 1961, given the alleged delayed filing of Form 10 and the quantum of government grants received.

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