Tax Guru

Form 10B Delay Condoned – Exemption U/s 11 Cannot Be Denied for Procedural Lapse

ITAT held that delay in filing Form 10B is only a procedural lapse and not fatal to exemption. It ruled that exemption under Section 11 cannot be denied where audit report is eventually ...
Tax Guru

Form 10B Delay Cannot Defeat Charitable Exemption When Report Filed Before Processing

The ITAT held that a 29-day delay in filing Form 10B is a procedural lapse and cannot be the sole basis for denying exemption under Sections 11 and 12. It ruled that substantial compliance and ...
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Income Tax Rule Change: Relief for companies, trusts and others for claiming benefit of lower tax, tax audit and others with new condonation of delay rules

The Ministry of Finance through the Central Board of Direct Taxes (CBDT) has issued a circular which essentially condones delay in filing Form no. 9A, 10, 10B and 10BB for AY 2018-19 and subsequent ...