Trust Met Exemption Criteria; Form 10B Delay Due to Illness: Gujarat HC Remands for Condonation

Parshwanath bhakti vihar jain trust Vs CIT (Gujarat High Court) Gujarat High Court recently delivered a significant judgment in the case of Parshwanath Bhakti Vihar Jain Trust versus the Commissioner of Income Tax (CIT). The Court quashed an order dated December 21, 2021, passed under Section 119(2)(b) of the Income Tax Act, 1961, which had rejected the trust’s application to condone a delay in filing Form No. 10B for Assessment Year 2018-19. The High Court emphasized a judicious and equitable approach in dealing with procedural delays, particularly for public charitable trusts. Case Bac...