Salt Movement Area Revival Trust vs. Dy. Director, CPC, Bengaluru

Parties Involved

Facts Summary

The assessee, a public trust running a teachers' training college, was denied exemption under section 10(23C)(vi) of the Income Tax Act, 1961 by the Commissioner of Income-tax (Appeals) due to the late filing of an audit report in the wrong form. The auditor filed Form 10B instead of Form 10BB before the specified date but corrected the error by uploading Form 10BB on 28.02.2023. The assessee appealed to the Income Tax Appellate Tribunal, which found that the filing of the audit report was a directory formality and reversed the decision of the Commissioner, granting the exemption claimed by the assessee.…

Legal Issues

• 1. Whether the assessee is entitled to full exemption under section 10(23C)(vi) of the Act?

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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