AO passed order u/s 143(1) whereby exemption u/s 11(2) was restricted as per original return on the ground that assessee had not filed ITR and form no.10 within due date prescribed u/s 139(1). On appeal the CIT(A) allowed the deduction. Tribunal affirmed the order of the CIT(A) holding that the Assessing Officer was not justified in not allowing the deduction for amount accumulated under section 11. (AY. 2019-20)
ITO (E) v. Ramji Mandir Religious and Charitable Trust [2024] 205 ITD 150 (Ahd) (Trib)
S. 11 : Property held for charitable purposes -Income from property –Revising the claim with higher deduction -Not filed the return and Form No 10 within due date prescribed under section 139(1) of the Act -Not justified in not allowing the deduction for amount accumulated under section 11. [S. 11(2), 139(1), 143(1), Form No. 10]