\u00a0<\/p>\n
Tribunal held that though the assessee-trust belatedly filed its return claiming exemption under section 11 along with an audit report in Form No. 10B, since said form was duly submitted before completion of assessment proceedings, the delay in filing said form was a procedural irregularity and exemption under section 11(2) could not be denied to the assessee. Tribunal also held that the assessee-trust failed to utilise accumulated income for the specified purpose within the permissible period and was instead donated to other trusts, which constituted a violation of provisions of section 11(3), thus, addition under section 11(3)(d) for such amount was justified.. (AY. 2017-18)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 11: Property held for charitable purposes-Delay in filing return of income along with audit report in Form No 10B-Form was submitted before completion of assessment proceedings-Procedural irregularity-Denial of exemption was not justified-Accumulation of income-Specified purpose-Donated to other trust-Constituted a violation of provisions of section 11(3)-Addition under section 11(3)(d) was justified. [S.11(2), 11(3)(d)]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[21],"tags":[],"class_list":["post-61291","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-fWz","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/61291","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=61291"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/61291\/revisions"}],"predecessor-version":[{"id":61292,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/61291\/revisions\/61292"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=61291"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=61291"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=61291"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}