Updated Return Can’t Kill Genuine Exemption – ITAT Allows Section 11 Relief Despite Delay

Indian Medical Association Vs DCIT (ITAT Pune) Updated Return Can’t Kill Genuine Exemption – ITAT Allows Section 11 Relief Despite Delay Pune ITAT held that exemption u/s 11 cannot be denied merely because it was claimed in an updated return or due to procedural delays in filing audit reports, for years prior to AY 2023-24. The assessee, a charitable trust, filed an updated return u/s 139(8A) claiming exemption u/s 11 after declaring capital gains. The CPC denied exemption and taxed gross receipts, citing delay in filing return and audit report (Form 10B). The CIT(A) upheld this, holding t...