Assessing Officer denied the exemption on ground that assessee had not filed its return of income and required Form No. 10 within due date of furnishing return under section 139(1).Application for condonation of delay was pending disposal before CBDT. Tribunal held that the assessee had filed return within due date specified under section 139(4) and also filed Form No. 10 electronically for both assessment years before completion of assessment. Rejection of exemption was held to be not valid. (AY. 2016-2017-18)
Jaya Educational Trust. v. DCIT (2021) 191 ITD 107 / 213 TTJ 418 (Chennai)(Trib.)
S. 11 : Property held for charitable purposes-Educational trust-Return and form No 10 was not filed within due date prescribed u/s 139(1)) of the Act-Reasonable cause-Return and form no 10 was filed before competition of assessment u/ s 139 (4)-Application for condonation of delay was pending before CBDT-Denial of exemption was held to be not valid. [S. 13, 119, 139(1), 139(4), Form No 10]