Suresh Shroff Memorial Trust Vs. ITO (Exemption) Ward 2(2), Mumbai

Parties Involved

Facts Summary

The Suresh Shroff Memorial Trust, a charitable trust, filed its return of income declaring total income as NIL for the assessment year 2017-18. The Assessing Officer (AO) denied the exemption under Section 11 of the Income Tax Act, 1961 and assessed the total income at Rs. 1,16,60,070/- for the late filing of Form 10B. The Commissioner of Income Tax, Appeal (CIT(A)) confirmed the addition in an ex parte order. The Authorized Representative (AR) for the appellant argued that the delay in filing Form 10B was condoned by the CIT(E), but the AO did not consider this. The Departmental Representative (DR) argued that the appeal should be dismissed due to non-compliance by the assessee.…

Legal Issues

• 1. Whether the exemption under Section 11 should be denied for late filing of Form 10B?

Judgment Outcome

Decided in favour of Assessee.

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