Holy Cross Church vs Income Tax Officer Exemption

Parties Involved

Facts Summary

The assessee, Holy Cross Church, a religious trust running a church and educational institutions, filed its return of income along with Form No.10BB for the assessment year 2023-24. The church claimed exemption under section 11 of the Income-tax Act, 1961. However, the CPC assessed the total income to a significantly higher amount, finding that Form No.10BB was filed 30 days late. The assessee appealed to the Ld. CIT(A), which rejected the appeal on the grounds of the delay in filing Form No.10BB and the failure to apply accumulated income. The assessee then filed an appeal before the Tribunal, arguing that the delay was minor and should be condoned, and that the accumulated income had been properly utilized.…

Legal Issues

• 1. Whether the delay in filing Form No.10BB should be condoned.
• 2. Whether the assessee is eligible for exemption under section 11 of the Act.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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