Technical Lapse in Form Filing Not Ground to Tax Gross Receipts of Trust

Sainath Sevabhavi Sanstha Vs ITO (ITAT Pune) Gross receipts not automatically income -Trust’s lapse in Return Form doesn’t justify taxing entire receipts – 2489 Days too Late? ITAT says delay condonable when cause is genuine -ITAT Pune Remands Appeal was filed by, a trust registered under the Bombay Public Trust Act, 1950 & the Societies Registration Act, 1860. Assessee had filed its return on 17.10.2014 showing gross receipts of ₹75,08,741/- and expenditure of ₹73,17,696/-, resulting in a small surplus of ₹1,91,045/-. CPC, however, processed the return u/s 143(1) on 14.03.2015...